Oversea-Chinese Banking Corporation (OCBC)

Singapore banks could still win despite e-payment disruption: Morgan Stanley
SINGAPORE (Sept 7): The rise of e-payments might create a potentially existential challenge for banks, but two Singapore banks are expected to emerge winners despite the disruption, according to Morgan Stanley Research. Across Asean, banks are expected to lose between US$13.1 and $15.5 billion ($18.0 and $21.3 billion) in value to non-bank operators by 2022 as a result of this e-payments ...
Can Singapore banks weather the storm as surprise property cooling measures strike?
SINGAPORE (July 6): DBS Group Research is downgrading its recommendations for both Oversea-Chinese Banking Corporation (OCBC) and United Overseas Bank (UOB) – and slashing their target prices by up to 20%. This comes after the government yesterday evening announced a couple of property cooling measures that will kick in with effect from today. “Previous property cooling measures caused ...
Customers can now open OCBC 360 Account via bank's website
SINGAPORE (June 5): All Singaporeans and permanent residents (PRs) can now open an OCBC 360 Account via the bank’s website, without the need to visit a bank branch or provide documents, says OCBC Bank. This is because the new account can be opened using the national data repository MyInfo to pre-fill an online OCBC 360 Account application form with personal details, while further ...
OCBC reports 29% rise in 1Q to $1.1 bil on lower loan provisions and higher income from lending and wealth management
SINGAPORE (May 7): Oversea-Chinese Banking Corporation reported a earnings of $1.11 billion for 1Q18 ended March, an increase of 29% from a year ago on lower loan provisions and higher income from lending and wealth management. This was slightly higher than the mean of five broker estimates of $1.09 billion compiled by Thomson Reuters. Last week, DBS posted a 26% increase in earnings while ...
Asia's top 20 private banks push past US$2 trillion AUM milestone
SINGAPORE (Apr 12): The top 20 private banks in Asia saw their combined assets under management (AUM) soar past the US$2 trillion ($2.6 trillion) milestone in 2017, according to data compiled by Asian Private Banker. The private banking arm of DBS Group Holdings saw its AUM climb 33.6% y-o-y to US$108.5 billion in 2017, while Oversea-Chinese Banking Corporation’s (OCBC) Bank of Singapore ...
OCBC's growing love for fintech and AI keeps it at 'buy'
SINGAPORE (Mar 23): UOB Kay Hian is maintaining its “buy” call on Oversea-Chinese Banking Corporation (OCBC) with a target price of $14.95. In a Thursday report, analyst Jonathan Koh says, “We are encouraged to see OCBC embarking on many IT initiatives to improve operating efficiency.” OCBC has established an in-house unit with an initial investment of $10 million to develop ...
OCBC acquires additional 18.51% stake in China fund management firm for $12.6 mil
SINGAPORE (Jan 17): Lion Global Investors, a subsidiary of Oversea-Chinese Banking Corporation (OCBC), has raised its interest in China’s Maxwealth Fund Management Company (FMC) to 28.51% from 10% previously by acquiring 37 million shares for RMB61.45 million ($12.6 million). With the latest transaction, FMC has become an associated company of OCBC. The remaining 71.49% interest in FMC is ...
OCBC expected to report solid set of 4Q results, says UOB
SINGAPORE (Jan 17): UOB Kay Hian is maintaining its “buy” call on OCBC with a target price of $14.88 given the bank is expected to report a “solid set of results” for 4Q17. The research house is forecasting net profit at $923 million, up 17% y-o-y but down 13% q-o-q as 3Q17 earnings were previously boosted by robust contribution from its insurance business and moderation in credit ...
OCBC is top banking stock on cost efficiencies: UOB
SINGAPORE (Dec 14): UOB Kay Hian says Oversea-Chinese Banking Corporation (OCBC) leads local banks in cost efficiency with the lowest staff cost per employee at $83,333 and lean other non-wage expenses. OCBC has also grown income per employee and pre-provision operating profit (PPoP) per employee at a faster pace ith CAGR at 4.7% and 4.4% for 2013 and 2017 respectively. UOB has a "buy" ...
OCBC's 3Q earnings rise 12% to $1.06 bil on broad-based growth across key markets and businesses
SINGAPORE (Oct 26): Oversea-Chinese Banking Corporation (OCBC) posted a 12% increase in earnings to $1.06 billion for the 3Q ended September, from $943 million in the same period a year ago. The strong performance was driven by sustained momentum across the group’s banking, wealth management and insurance businesses. Net interest income grew 12% to $1.38 billion in 3Q17, from $1.23 ...