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OCBC and UOB kept at 'buy' by Jefferies on FY18 earnings growth, rising dividends

PC Lee
PC Lee2/15/2018 11:15 AM GMT+08  • 3 min read
OCBC and UOB kept at 'buy' by Jefferies on FY18 earnings growth, rising dividends
SINGAPORE (Feb 15): Jefferies is forecasting FY18 earnings growth and rising dividends for  OCBC Bank and UOB.
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SINGAPORE (Feb 15): Jefferies is forecasting FY18 earnings growth and rising dividends for OCBC Bank and UOB.

OCBC and UOB reported 4Q earnings growth of 31% and 16% y-o-y, respectively. Growth was driven by balance sheet and margin expansion, as well as lower credit costs.

Like its peer, both banks increased their dividend run-rate, with UOB further sweetening it with a special dividend. More importantly, both banks appear more than adequately capitalised for growth and further upside to payouts.

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