OCBC Bank - RHB Research 2026-05-28: Solid All Rounder; Keep BUY

• With a solid balance sheet, positive earnings momentum backed by a solid wealth business and reasonable valuation as well as dividend yield, we keep our BUY call on OCBC (SGX:O39).

• - Read this at SGinvestors.io -

Renewed interest in SG Banks amid shift in rate expectations.

• SG Banks started off the year on a decent note, on the back of positive inflows and investor interest thanks to the flight to quality, S$ assets. More recently, we observe a renewed momentum in SG Banks’ share price performance. We believe this may have been fuelled by a combination of:

  1. - Read this at SGinvestors.io -
  2. shift in investor focus to banks’ non-II from NII. In particular, the wealth business has been a bright spark given the continued strong inflows into the country; and
  3. post 1Q26 reporting quarter outlook, where OCBC reported a solid set of numbers despite having bulked up on liquidity and adding loan provision buffers.

• These buffers can be released down the road and would be supportive of earnings ahead, should macroeconomic uncertainties ease.

Recap of 1Q26 briefing highlights.

• Read more at SGinvestors.io.

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:
2026-05-11 OCBC Bank - Good Start To The Year Despite Defensive Actions.

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 Dividend Payout Dates & Corporate Actions,
OCBC News