【Bank Sells Cake】OCBC Bank's new Central branch introduces Singapore's "Lao Cheng Chang" to sell Pandan Cake, with account openings increasing by 70% daily compared to last year's old branch.

SocialAnxietyStaker · 2026-03-10T12:27:37+00:00

OCBC Bank has introduced the Singaporean pandan cake brand "Lao Cheng Chang" at its new branch in Central, successfully attracting a large number of high-value clients. Li Gui Zhuang stated that this model could be expanded to other regions, and expects retail staffing growth and wealth management income to also increase significantly. Additionally, due to geopolitical influences, inflation easing may slow down, and the US interest rate cut plans could be delayed.

SocialAnxietyStaker

2026-03-10 12:27:37

Abstract generation in progress

OCBC Bank (Hong Kong) announced the opening of a new branch in Central featuring the popular Singaporean pandan cake brand “Lao Cheng Chang,” bringing the “Bank × Lifestyle Retail” model from Singapore to Hong Kong. OCBC Hong Kong Retail Banking Head Lee Gui Chong revealed that during the three-week trial operation of the new Central branch, the number of new accounts opened daily increased by over 70% compared to the average daily accounts at the old Central branch in 2025, most of which were “Wealth Management” clients with a minimum daily total wealth of HKD 1 million.

OCBC stated that part of the space in the new Central branch is allocated to the “Lao Cheng Chang” bakery, and the partnership is long-term. The new Central branch operates from 9 a.m. to 5 p.m. Monday to Friday, while “Lao Cheng Chang” is open from 9 a.m. to 7 p.m. on weekdays. On Saturdays, the branch is open until 1 p.m., and Lao Cheng Chang is open until 6 p.m. Both the branch and the bakery are closed on Sundays.

Lee Gui Chong said that there is no ruling out the possibility of expanding this “Bank × Lifestyle Retail” hybrid model to other branches in Hong Kong in the future. However, when selecting partner brands, careful consideration must be given to food safety, product quality, crowd control, and operating hours.

He also mentioned that the bank plans to increase staffing overall, with retail banking staff expected to grow by nearly double digits compared to last year. Lee noted that the bank’s wealth management income in January this year increased by over 70% compared to the same period last year, with a full-year growth target in the high double digits. She added that by 2025, OCBC’s Wealth Management clients are projected to grow by over 30% year-on-year, offshore clients by over 40%, and wealth management income by more than 70%.

Additionally, Lee pointed out that geopolitical factors have slowed inflation easing, which may lead the U.S. to delay interest rate cuts, with a possible reduction of only 0.25 percentage points before June this year. In this environment, capital may flow into safe-haven assets such as gold, U.S. bonds, and the U.S. dollar.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.