OVERSEAS-CHINESE Banking Corp may raise its stake in Ningbo Commercial Bank, the Business Times reported yesterday, citing Linus Goh, head of the Singapore bank's international operations.

OCBC may boost its stake after Ningbo lists its shares, the newspaper said, citing a statement by Goh. The Chinese bank has made a submission to China's banking authorities for a share sale this year, the report said.

OCBC became the first of Singapore's three lenders to buy shares in a Chinese bank. It bought a 12.2 percent stake, paying 570 million yuan (US$75 million) for 250 million new shares in Ningbo Commercial, which is based in Zhejiang Province.