OCBC Bank has announced a one-time grant to Global junior employees for the second consecutive year, totaling nearly 7.5 million Singapore dollars, equivalent to about 43.02 million Hong Kong dollars. The funds will be used to assist approximately 0.011 million employees of OCBC Bank and its subsidiaries, including Singapore Bank and OCBC Securities, in coping with the pressure of living costs. The funds will be distributed between February and April of next year.
The benefiting employees account for about 40% of OCBC Bank Group's total workforce across 17 markets, with over 1,400 junior employees in Hong Kong and Macau receiving 5,400 Hong Kong dollars and 4,000 Macau Patacas, respectively, making up about half of the total workforce in Hong Kong and Macau.
Li Feiwen, the Group's Director of Talent Resources, stated that although inflation is expected to ease in 2025, there is still a desire to provide a one-time grant to help employees cope with the rising cost of living.