OCBC Bank - Phillip Securities 2024-05-13: Non-Interest Income The Growth Driver

OCBC Bank - Non-Interest Income The Growth Driver

OCBC (SGX:O39) | SGinvestors.ioOCBC (SGX:O39)
  • 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


You May Also Like

SGX Stock / REIT Search


Most Read

Trust Bank God Of Fortune Referral Code PGKPSWAE Trust Bank Referral Code 🎁