OCBC Bank: GOOD DEMAND FOR OCBC BANK’S SGD- AND GBPDENOMINATED LONDON RESIDENTIAL PROPERTY FINANCING WITHIN 6 MONTHS OF LAUNCH

OCBC Bank was the first Singapore Bank to offer financing for London residential property purchases

Oversea-Chinese Banking Corporation Limited (“OCBC Bank”) today announced that, after the August 2010 launch of SGD- and GBP- denominated London residential  property financing to high net worth individuals, its volume of London home loans more than doubled in the last quarter of 2010 compared to volume in the first three months following the launch. The strong loans book was driven by  the growing demand among affluent customers for overseas properties following the weakening of the pound against the Singapore dollar, and the attractiveness of London property in terms of good rental yields and capital gains.

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http://www.ocbc.com/download/media_releases/2011/Mar/Media%20Release%20London%20Pty%20Financing.pdf