Oversea-Chinese Banking Corporation (OCBC)

CGS-CIMB keeps UOB as top bank sector pick despite underperforming NIM expansion

SINGAPORE (June 3): CGS-CIMB Research is keeping United Overseas Bank (UOB) as its top pick among the Singapore banks, despite the bank’s NIM expansion underperforming compared to its peers.

According to lead analyst Andrea Choong, UOB’s valuations are inexpensive at 1.0 times FY19F price-to-book value (P/BV) – close to 1 standard deviation below its long-term mean. The bank also offers a FY19F dividend yield of 5.1%.

Singapore banks to shine despite regional macros, competition from fintechs: Maybank

SINGAPORE (Mar 18): Maybank Kim Eng is keeping “positive” on Singapore’s banking sector while noting significant interest among Malaysian investors in Singapore banks from a flight-to-quality angle, and for their high dividend yields as the SGD appreciates.

9 undervalued stocks to watch in the MSCI Singapore Index: KGI

SINGAPORE (Dec 18): KGI Securities has highlighted nine stocks in the MSCI Singapore Index that are currently undervalued, even as they each offer a FY18 dividend yield of more than 3.5%.

According to KGI, the nine stocks – ComfortDelGro Corporation, United Overseas Bank (UOB), Keppel Corporation, Singapore Technologies Engineering (ST Engineering), Singapore Exchange (SGX), Oversea-Chinese Banking Corporation (OCBC), CapitaLand, Genting Singapore (GENS), and Singapore Airlines (SIA) – are trading below their 10-year price-to-earnings (P/E) and price-to-book (P/B) averages.

Why UOB is the better of two 'buys', according to DBS

SINGAPORE (Dec 4): DBS Vickers Securities is maintaining its “buy” for United Overseas Bank (UOB) and Oversea-Chinese Banking Corp (OCBC) with target prices of $29.50 and $13.20.

In a Tuesday report, analyst Lim Rui Wen notes that UOB is offering close to 5% yield and OCBC, at around 4%.

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 disruption, Morgan Stanley says in a recent report.

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 loan growth to half from a high of 16% after a year,” says lead analyst Lim Sue Lin in a Thursday report.

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 verification and authentication is conducted in real time using OCBC’s real-time digital know-your-customer process (e-KYC).

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 UOB’s earnings rose 21%.

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 grew 25.3% y-o-y to US$99.0 billion, and United Overseas Bank (UOB) Private Bank gained 32.8% y-o-y to US$34.3 billion.

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 artificial intelligence (AI) capabilities across commercial banking services, such as wealth advisory and loan financing.

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