OCBC's client base grew by up to 17% over the last six years

Premier banking is its key growth driver.

Banking giant OCBC has seen its number of clients growing by 9-17% across its retail, premier, and Bank of Singapore operations in 2010 to 2016, a report from Jefferies said.

"The group has been able to attract new client segments through FRANK and 360 Accounts," Jefferies said.

The report also revealed that OCBC managed to grow its assets under management (AUM) by 17% whilst wealth fee income has grown at a faster rate of 20%.

Looking forward, it reckons that the banks' future focus will be on improving digital capabilities, branch effectiveness and cultivating ecosystem partners.

Meanwhile, Jefferies observed that the group is shifting focus away from selling financial products.

"Instead, the effort is to understand a client's stage of lifecycle and financial goals, which is then used to craft a solution using in-house/third party products. Solutions are customised for every goal - building, managing and safeguarding wealth. Future focus is on empowering consumers with omnichannel portfolio tracking and review capabilities," it noted.