Home Capital Broker's Calls

Fintech a necessity not a competitive advantage for OCBC

PC Lee
PC Lee9/25/2018 10:46 AM GMT+08  • 2 min read
Fintech a necessity not a competitive advantage for OCBC
SINGAPORE (Sept 25): The digital transformation efforts of Oversea-Chinese Banking Corp is a necessity rather than a competitive advantage for the lender.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Sept 25): The digital transformation efforts of Oversea-Chinese Banking Corp is a necessity rather than a competitive advantage for the lender.

While the form and function of the digital initiatives are very similar to other banks, the push is necessary to ensure customers remain within OCBC’s banking ecosystem, say analysts who attended its investor day.

Cost avoidance and efficiencies are expected to arise as a result of technology spending which represented 11% of costs in FY17, up from 8% in 2013. Management expects cost-to-income ratio (CIR) to gradually trend towards 40% four to five years from now. As of 1H18, CIR stood at 43%.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now