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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.
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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:
- - Read this at SGinvestors.io -
- 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
- post 1Q26 reporting quarter outlook, where OCBC reported a solid set of numbers despite having bulked up on liquidity and adding loan provision buffers.
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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/.
Singapore Research RHB Securities Research | https://www.rhbgroup.com/ 2026-05-28
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
