OCBC - RHB Research 2026-01-27: Looking Ahead To What 2026 Has In Store

• We met recently with management for an update. For OCBC’s upcoming 4Q25 results (see Earnings Calendar), we learnt that broad trends should be in line with guidance.
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Expecting positive y-o-y earnings growth in 4Q25.

• Our 2025F PATMI of S$7.4bn for OCBC (in line with Street) implies that 4Q25 PATMI could see ~2% y-o-y growth. This would be the swiftest pace of expansion in 2025, thanks to higher non-II. q-o-q, though, we expect mid-teens earnings contraction, mainly due to seasonality, where – for example – non-II tends to be weaker, while opex could tick up.
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Liquidity inflows stay healthy.

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Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.

Previous report by RHB:
2025-11-10 OCBC Bank - Awaiting Updates On Capital Management.

Price targets by 4 other brokers at OCBC Target Prices.

Listing of research reports at OCBC Analyst Reports.

Relevant links:
OCBC Share Price History,
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OCBC Dividend Payout Dates & Corporate Actions,
OCBC News