- OCBC Bank (SGX:O39)'s 1Q24 earnings of S$1.98bn were slightly above our estimates. This was due to higher non-interest income from growth in fee, insurance, and trading income and moderate growth in NII offset by higher allowances and expenses. 1Q24 PATMI was 28% of our FY24e forecast.
- - Read this at SGinvestors.io -
- OCBC announced a S$1.4bn voluntary unconditional general offer for the remaining 11.56% stake in Great Eastern (SGX:G07) that it does not own. The offer price was S$25.60 per share.
- - Read this at SGinvestors.io -
The Positives
Non-interest income rises 17% y-o-y.
- Read more at SGinvestors.io.
Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Glenn Thum Phillip Securities Research | https://www.stocksbnb.com/ 2024-05-13
Previous report by Phillip:
2024-03-01 Oversea-Chinese Banking Corp - Non-Interest Income Driving Growth.
Price targets by 4 other brokers at OCBC Target Prices.
Listing of research reports at OCBC Analyst Reports.
Relevant links:
OCBC Share Price History,
OCBC Announcements,
OCBC Dividends & Corporate Actions,
OCBC News Articles
