Ocean Bank to sell 15% stake to Hermes

Ocean Bank will sell 15 per cent of its total capital to Hermes Capital this year.

It also aims to boost its charter capital by 25 per cent from US$190.5 million to US$238.1 million.

Last year, Ocean Bank earned a pre-tax profit of US$30.6 million on a total assets of nearly US$3 billion). This year, it targets a total profit of US$35.7 million and a dividend payout of 10 percent.

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