OCBC (SGX:O39)'s 4Q25 earnings of S$1.75bn were slightly below our estimates, with FY25 earnings at 98% of our FY25e forecast. Final dividend up by 2% y-o-y to 42 cents, with FY25 total OCBC's dividends at S$0.99 (FY24: S$1.01), inclusive of a special dividend of 16 cents.
- Read this at SGinvestors.io -
OCBC has provided FY26e guidance for a slight to moderate decline in NII, mid-single-digit loan growth, CIR in the low to mid 40s, and credit costs of 20-25bps. OCBC has also committed to completing the S$2.5bn capital return plan by FY26e of which S$780mil of share buyback is outstanding.
The Positives
Fee income growth continues.
- Read this at SGinvestors.io -
WM AUM was 15% higher y-o-y at S$343bn, driven by net new inflows of S$6bn for the quarter, of which more than 60% were placed into investments. Higher loan-related, brokerage, fund management and credit card fees resulted in total fee income growth of 16% y-o-y.
Provisions improve for the 3rd consecutive quarter.
Read more at SGinvestors.io.
Above is an excerpt from a report by Phillip Securities Research. Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.
Use Trust Referral Code PGKPSWAE to sign up NTUC Link or Trust Link Credit Card or open a Trust Bank Savings Account: ✨Earn up to S$1,888 cashback reward 🎟 !
