Oversea-Chinese Banking Corp (OCBC)

Outlook for OCBC appears mixed to analysts
SINGAPORE (May 13): UOB KayHian is maintaining Oversea-Chinese Banking Corp (OCBC) at “buy” with a target price of $14.62 based on 1.42 times FY19F book. See: OCBC reports 11% rise in 1Q19 earnings of $1.23 bil on strong income growth “We raised our earnings forecast for 2019 by 2.2% after factoring in the better-than-expected results for 1Q19,” says OCBC analyst Jonathan ...
Singapore says it's studying whether to allow digital-only banks
(May 7): Singapore is discussing the possibility of allowing virtual banks to operate in the city state, the Monetary Authority of Singapore said Tuesday. “MAS is studying whether to admit such digital-only banks with non-bank parentage,” the financial regulator said in an emailed reply to questions from Bloomberg News. “We have been engaging relevant stakeholders to ascertain the unique ...
Forgers are forcing a US$9 tril business into the digital age
(May 6): The US$9 trillion ($12.3 trillion) business of financing global trade needs to go digital, according to southeast Asia’s second-biggest lender. Forgers have become so adept at faking documents used by banks that going paperless has become a necessity for the industry, said Ng Chuey Peng, managing director and head of global commodities finance at Singapore’s Oversea-Chinese ...
Fairly valued OCBC kept at 'neutral' by RHB with $12.20 target
SINGAPORE (Apr 23): RHB Research is maintaining Oversea-Chinese Banking Corp (OCBC) at “neutral” saying the stock is fairly valued. In addition, OCBC’s 1Q19 non-interest income is expected to be “uninteresting”, given high 1Q18 base would make it challenging for 1Q19 to show growth. And although NIM is expected to widen this year, RHB expects this to be narrower than ...
OCBC says coal plants it's financing in Vietnam will be its last
(Apr 17): Oversea-Chinese Banking Corp., Southeast Asia’s second-largest lender, said two Vietnamese coal-fired power plants will be the last it finances as it increases funding for renewable projects. “We won’t do any new coal-fired power generation plants in any countries, except for the power projects that we are already in, or we have committed to,” Chief Executive Officer Samuel ...
US rate hike pause priced into banking stocks, says CGS-CIMB
SINGAPORE (Mar 11): CGS-CIMB Research says current bank valuations have priced in downside risks of a pause in US Federal Reserve rate hikes on sector earnings. Absence of asset quality pressure should also prevent de-rating. “Maintain ‘Overweight,” says analyst Andrea Choong in a Friday report with DBS Group Holdings, United Overseas Bank and Oversea-Chinese Banking Corp in order of ...
DBS is Maybank Kim Eng's top pick amid expectation of wider NIM in 2019
SINGAPORE (Mar 7): Maybank Kim Eng Research says DBS Bank is its top pick among local banks on the back of its strong low cost deposit franchise. “Domestic banks, with lower loan to deposits (LD) ratios and higher mix of low cost deposits, should see net interest margins (NIMs) rise further,” says analyst Thilan Wickramasinghe in a report on Wednesday. “We believe DBS is best ...
Local banks to face greater asset risks due to worsening macroeconomic conditions: Moody's
SINGAPORE (Feb 26): Singapore's three largest banks by assets, DBS Bank, Oversea-Chinese Banking Corp (OCBC) and United Overseas Bank (UOB) will face greater asset risks this year due to worsening macroeconomic conditions despite ending 2018 with record net profits, stable asset quality and strong capital, says Moody’s Investors Service. This, combined, with the stagnation of net interest ...
OCBC still a 'buy' but target price dropped to $12.90 on earnings cuts: DBS
SINGAPORE (Feb 25): DBS Group Research is maintaining its “buy” call on Oversea-Chinese Banking Corporation (OCBC) with a lower target price of $12.90, from $13.20 previously. This came on the back of a 11% y-o-y increase in FY18 earnings to $4.49 billion, driven by record earnings from its banking operations which grew 22% y-o-y. However, 4Q18 earnings dropped by 11% y-o-y to $926 ...
Singapore banks flag risks after disappointing earnings season
SINGAPORE (Feb 22): After being stung by the market turmoil at the end of last year, Singapore’s banks are bracing for fresh challenges from China-US trade tensions and a slowing world economy. “We expect ongoing global uncertainties to continue to weigh on business sentiment in the near term,” United Overseas Bank Chief Executive Officer Wee Ee Cheong told reporters Friday in Singapore ...