Keppel TatLee Bank
Company type
Predecessor
Founded26 December 1998; 25 years ago (1998-12-26)
Defunct25 February 2002; 22 years ago (2002-02-25)
FateMerged with Oversea-Chinese Banking Corporation
HeadquartersSingapore
Key people
Benedict Kwek (CEO)
ServicesFinancial services
RevenueIncrease SG$469.456 million (1999)[1]
Increase SG$312.873 million (1999)[1]
Decrease SG$186.703 million (1999)[1]
Total assetsIncrease SG$22,406.634 million (1999)[1]
ParentKeppel Capital Holdings Ltd (since 2001)[2]

Keppel TatLee Bank (Chinese: 吉宝达利银行; pinyin: Jíbǎo Dálì Yínháng) was a Singapore-based financial services organisation formed through a merger of Keppel Bank and Tat Lee Bank on 26 December 1998.[3][4] It was acquired by Oversea-Chinese Banking Corporation (OCBC) in August 2001 and was integrated into OCBC Bank in 2002.[5]

History

The bank was formed on 26 December 1998 when Keppel Bank acquired another Singapore financial institution, Tat Lee Bank.[6] Keppel Bank was formed in 1990, when Keppel Corporation acquired the Asia Commercial Bank.[3][4]

The bank formed a strategic alliance with Allied Irish Banks in 1999, which allowed AIB to take up a 24.9% stake in the bank.[7] In 2001, the bank was privatised and became a subsidiary of Keppel Capital Holdings Ltd (KCH), as part of a restructure of KCH.[2] Its parent company was then acquired by OCBC, operationally and legally integrated with it in 2002.[5]

References

  1. ^ a b c d Keppel TatLee Bank - Press Release
  2. ^ a b "Keppel moves to privatise its finance company". Keppel Corporation. 21 March 2001. Retrieved 7 October 2019. Keppel Capital Holdings Ltd (KCH) and Keppel TatLee Finance Limited (KTF) have proposed a scheme of arrangement (the Scheme) to privatise KTF as a wholly owned subsidiary of KCH.
  3. ^ a b Tan, Chwee Huat (2002). Singapore Financial & Business Sourcebook. Singapore: Singapore University Press. p. 572. ISBN 9789971692568.
  4. ^ a b "Keppel TatLee Bank Reports Record Profit". Keppel Corporation. 14 February 2000. Retrieved 7 October 2019.
  5. ^ a b "OCBC BANK AND KEPPEL TATLEE BANK ARE LEGALLY AND OPERATIONALLY ONE" (PDF) (Press release). Singapore: OCBC Bank. 2002-02-25. Retrieved 2013-03-05.
  6. ^ "Keppel, Tat Lee cut rates by 1/2 -pt". The Business Times. 23 November 1998. p. 17. Retrieved 7 February 2024 – via NewspaperSG.
  7. ^ "AIB enters Strategic Alliance with Keppel TatLee Bank". Business Wire. June 2, 1999.
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