OCBC spends S$55 million on back-office hubs

Singapore's OCBC Bank will spend S$55 million over the coming two years building back-office hubs in Singapore and Malaysia. The move, which was previously announced in February 2003 as part of the bank's New Horizons strategy, will give OCBC greater processing capacity. The hubs will also act as back-up sites for business continuity and disaster recovery.