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Look forward to promising 2Q results from OCBC this season: UOB Kay Hian

The Editor
The Editor7/14/2017 11:39 AM GMT+08  • 2 min read
Look forward to promising 2Q results from OCBC this season: UOB Kay Hian
SINGAPORE (July 14): UOB Kay Hian is reiterating its “buy” call on Oversea-Chinese Banking Corporation (OCBC) with a target price of $13, in anticipation of broad-based growth as well as resilient asset quality to be reflected in the bank’s upcoming
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SINGAPORE (July 14): UOB Kay Hian is reiterating its “buy” call on Oversea-Chinese Banking Corporation (OCBC) with a target price of $13, in anticipation of broad-based growth as well as resilient asset quality to be reflected in the bank’s upcoming 2Q17 financial statement release.

The research house is forecasting a net profit of $946 million for the quarter, which represents a 6.9% growth y-o-y but a 2.8% decline q-o-q.

In a Friday report, analyst Jonathan Koh opines that the bank is on track to meet its guidance for mid-single-digit loan growth for 2017.

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