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OCBC (SGX:O39) is on the cusp of transformation under its new CEO’s leadership and we remain confident of management’s execution to deliver OCBC’s next leg of growth.
Refocusing on growth engines.
- - Read this at SGinvestors.io -
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Management is guiding for stable to improving ROE, driven by a stronger focus on higher-returning businesses while maintaining cost discipline with CIR at low to mid-40%.
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OCBC is the only Singapore bank to guide for stable to improving income in FY26F, driven by double-digit growth in non-interest income, while confident of a mid-single digit loan growth.
2Q26 results likely to be resilient; loan growth guidance may be revised upwards.
- - Read this at SGinvestors.io -
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We believe 2Q26 provisions may be lower q-o-q given the pre-emptive management overlays in 1Q26. Lower credit costs could further support 2Q26 net profit.
Downside risks from asset quality cushioned by high non-performing loan (NPL) coverage ratio.
- Read more at SGinvestors.io.
Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.
Rui Wen Lim DBS Group Research | https://www.dbs.com/insightsdirect/ 2026-07-08
Previous report by DBS:
2026-05-08 OCBC 1Q26 - Revenue & Net Profit Beat On Record Non-interest Income.
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
