The Oversea-Chinese Banking Corporation was officially established on 1 January 1933 after the merger of three banks: Chinese Commercial Bank, Ho Hong Bank, and Oversea- Chinese Bank. The consolidation was a direct response to the global financial crisis of the Great Depression, which started in 1929. Prominent Peranakans, as well as Hokkien and Teochew leaders of that era married to Peranakans, numbered among the investors spearheading the development of these banks, including Lee Choon Guan, Tan Cheng Lock, Lim Boon Keng, Lim Nee Soon, and Lim Peng Siang. The first Chairman of the amalgamated bank, seated at the centre of the front row with his hand resting on the arm of his chair, was Chee Swee Cheng, who belonged to one of the oldest MalaccaPeranakan families.
