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OCBC
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Joelton
Supreme |
08-Aug-2026 15:40
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OCBC jumps 3.1% at midday after Q2 earnings release UOB pares morning losses [SINGAPORE] Shares of UOB : U11 -0.85% and OCBC : O39 +3.14% diverged after the local banks&rsquo second-quarter earnings release, with UOB declining by as much as 2.2 per cent, while OCBC shares rose by 2 per cent on Friday morning (Aug 7). UOB shares declined 1.5 per cent at market open, before slipping further to S$42.61 at 9.06 am, down 2.2 per cent or S$0.97, after about 1.1 million securities valued at S$46.1 million were transacted. The stock later pared losses by midday, reaching S$43.21, still down 0.8 per cent. On the other hand, OCBC shares rose 2 per cent, before easing to S$29.88 at 9.06 am, still up 1.9 per cent or S$0.55. By midday, the counter was up 3.1 per cent at S$30.25 &ndash a new high for the lender. This comes after the two banks&rsquo Q2 earnings beat forecasts, with OCBC&rsquo s operating profit increasing 20 per cent year on year to S$2.6 billion, on strong contributions from its wealth management and insurance segments. UOB&rsquo s operating profit was up 2 per cent year on year at S$2 billion for Q2, but its operating profit for the first half of the year fell 4 per cent on the year to S$3.9 billion. UOB&rsquo s net profit for Q2 rose 10 per cent to S$1.48 billion, compared with S$1.34 billion for the year-ago period. Meanwhile, OCBC&rsquo s net profit for the period was up 22 per cent at S$2.22 billion, from S$1.82 billion previously. |
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Joelton
Supreme |
08-Aug-2026 15:20
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Analysts mostly remain &lsquo neutral&rsquo on SGX after &lsquo standout&rsquo FY2026 OCBC and UOBKH have higher TPs Analysts are remaining mostly &ldquo neutral&rdquo on the Singapore Exchange (SGX) despite the bourse&rsquo s &ldquo standout&rdquo results for the FY2026 ended June 30, as they see positives already being priced into its shares. SGX&rsquo s shares - which opened at $25.02 on Aug 7, a new high - also reflected the market&rsquo s optimism. Macquarie Research&rsquo s Jayden Vantarakis maintained his &ldquo neutral&rdquo call with a 12-month target of $24.60 as SGX&rsquo s overall profits were in line with expectations. While he lauded the pickup in securities daily average value (SDAV), which mirrored the revenue delivery in cash equities, he also noted the lower fees per contract in equity derivatives, which fell by eight cents h-o-h to $1.20 in 2HFY2026. &ldquo Management attributed this to a shift in mix and foreign exchange (FX), none of which is expected to be structural&rdquo . UOB Kay Hian&rsquo s Roy Chen and OCBC Investment Research&rsquo s Andy Wong have also kept their &ldquo hold&rdquo and &ldquo neutral&rdquo calls but with higher target prices of $23.40 and $24.62 respectively on higher-than-expected results. Chen and Wong had target prices of $21.70 and $18.17 previously. Chen&rsquo s updated target price is now based on 27.9 times FY2028 P/E, pegged to 2 standard deviations (s.d.) above historical mean P/E of 22.5 times, while Wong&rsquo s new target price is based on a P/E multiple of 31.2 times from 27 times, pegged to two s.d. above SGX&rsquo s three-year average. &ldquo The +2 s.d. peg reflects SGX&rsquo s upbeat earnings growth outlook and its unique valuation proposition being a beneficiary of both Singapore&rsquo s equity market development initiatives and heightened macro and geopolitical uncertainties,&rdquo says Chen. &ldquo While we see no de-rating catalyst for SGX in the near term, we think positives for the company should have been well digested by the market and hence likely been priced in,&rdquo he adds, noting that SGX&rsquo s FY2028 P/E of 29 times is also a premium over its global peers, which are mostly trading at 20 times to 26 times. Based on his estimates, SGX&rsquo s FY2026 core earnings stood 2.8% above, thanks to a slight better-than-expected cost control and lower loss contribution from associates on a y-o-y basis. &ldquo We remain constructive on SGX&rsquo s outlook and expect broad-based growth across its equities and derivatives businesses,&rdquo says Chen. At the briefing, SGX&rsquo s Pol de Win guided that the bourse had a pipeline of some 50 IPOs in &ldquo various stages of engagement and preparation&rdquo . Both analysts have also raised their earnings. Chen has raised his FY2027 to FY2028 estimates by 4% - 5% to $860 million and $896 million respectively, while Wong upped his core earnings per share (EPS) by 13.2% for FY2027. Citi has &lsquo sell&rsquo call Meanwhile, Citi&rsquo s Tan Yong Hong has maintained his &ldquo sell&rdquo call with an unchanged target price of $18.70 despite SGX&rsquo s overall FY2026 results coming in line with his estimates. &ldquo Into year-end 2026, SGX is likely to start to see [a] high-base effect from 2HFY2026 levels we see potential for P/E compression alongside narrowing earnings growth,&rdquo he writes. In the second half of the year, SGX&rsquo s underlying earnings grew by 39% y-o-y. Tan also expects to see earnings downgrade moving forward due to higher-than-expected operating expenses (opex) growth of 6% - 8% and &ldquo sharply lower&rdquo equities, currencies and commodities fees per contract. The analyst has lowered his FY2027-FY2028 earnings by 0%-1% as he sees SGX&rsquo s income upgrade offset by the higher opex. Shares in SGX closed 19 cents higher or 0.78% up at $24.51 on Aug 7. |
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MrBear12
Supreme |
07-Aug-2026 12:18
Yells: "Cast all our anxieties on Jesus for He cares for us" |
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OCBC is gonna be the star 2026 bank with ample room for improving ROE to 17 (like DBS)
Look forward to special dividends and improved dividend FY. 50 cents plus any specials. And capital distributions.... Isn't bear greedy? Which bear is not??? |
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chengwh1
Elite |
07-Aug-2026 11:24
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Observed liquidity is transferring from UOB to OCBC,... in that investors are selling UOB and using their proceeds to buy OCBC (and some into DBS too). Two banks reported simultaneously this morning, this type of arbitrage event CAN TAKE PLACE. CK. |
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Joelton
Supreme |
07-Aug-2026 10:38
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OCBC Q2 profit rises 22% to S$2.22 billion, beating expectations [SINGAPORE] OCBC&rsquo s net profit for its second quarter rose 22 per cent, as asurge in non-interest income led by wealth management more than offset a fall in net interest income amid softer rates. Net profit for the three months ended Jun 30, 2026, stood at S$2.22 billion, up from S$1.82 billion in the year-ago period, it said on Friday (Aug 7). The earnings beat the S$1.91 billion consensus forecast in a Bloomberg survey of five analysts. OCBC declared an interim dividend of S$0.47 a share, up from S$0.41 a share the year before. Net interest income fell 1 per cent to S$2.26 billion, as net interest margin declined 22 basis points to 1.70 per cent, from 1.92 per cent in the previous year. Non-interest income was up 51 per cent at S$1.91 billion, driven by broad-based growth across fee, trading and insurance income, which rose 28 per cent, 85 per cent and 68 per cent, respectively. The non-performing loan ratio was unchanged at 0.9 per cent. Group CEO Tan Teck Long said: &ldquo Looking ahead, global conditions remain uncertain amid geopolitical tensions and elevated inflation risks. &ldquo Much of the near-term outlook will depend on the easing of Asia&rsquo s energy crunch brought about by the war in the Middle East. Meanwhile, artificial intelligence and related technology sectors continue to register strong growth.&rdquo OCBC shares closed up 2.4 per cent or S$0.70 at S$29.33 on Thursday, ahead of the results. |
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s100125
Elite |
07-Aug-2026 09:28
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Not be surprised if catch up with UOB in no time with this type of growth continue.
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Checkerman
Master |
07-Aug-2026 09:06
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long term should break $33
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easywin
Supreme |
07-Aug-2026 09:06
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Haha... right direction liao easy money coming in fast
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Checkerman
Master |
07-Aug-2026 09:05
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max +2%-2.5% for today
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hokpin
Supreme |
07-Aug-2026 09:04
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Singapore bank stocks keep long term for dividend is the best, really! | ||||
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s100125
Elite |
07-Aug-2026 09:02
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If can, just keep it as nobody know how far this gem can climb , look at DBS as an example.
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incirent
Senior |
07-Aug-2026 08:57
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I sold mine last week @$28.10 | ||||
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Newcomer19707016
Veteran |
07-Aug-2026 08:52
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Wait for dividends or sell first? Which option is better? | ||||
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easywin
Supreme |
07-Aug-2026 08:49
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Buy at opening to contra for easy money? | ||||
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hokpin
Supreme |
07-Aug-2026 08:28
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综 合 来 看 ， 本 轮 表 现 最 亮 眼 的 是 OCBC， DBS 稳 健 领 跑 、 亮 点 最 全 面 ， UOB 基 本 符 合 预 期 、 略 逊 一 筹 （ 截 至 2026-08-07三 家 均 已 发 布 Q2财 报 ） 。
📊 核 心 数 据 速 览 （ 单 位 ： 新 元 ） 指 标 DBS (8/6) OCBC (8/7) UOB (8/7) 净 利 润 30.8亿 ， +9% YoY， 超 预 期 22.2亿 ， +22% YoY， 大 幅 超 预 期 14.8亿 ， +10% YoY， 符 合 预 期 总 营 收 60.9亿 ， +6%， 首 次 破 60亿 41.7亿 ， +18% 36.0亿 ， +4% 净 息 差 NIM 1.87%（ -18bp YoY） 1.70%（ -22bp YoY） 1.74%（ -8bp QoQ） 非 息 收 入 +25%； 财 富 费 +42%； AUM破 5160亿 +51%； 保 险 +68%、 交 易 +85% +11%（ 含 一 次 性 资 产 出 售 ） ； 财 富 费 +5% 资 产 质 量 不 良 率 1.0%， 拨 备 16bp 不 良 率 0.9% 不 良 率 1.6%， 拨 备 28bp 每 股 股 息 0.81元 （ 含 特 别 0.15） 0.47元 （ +15% YoY） 0.88元 （ 中 期 ） 亮 点 盈 利 规 模 /ROE 17.9%、 上 调 全 年 指 引 、 AUM破 5000亿 净 利 增 速 最 高 、 非 息 爆 发 、 超 预 期 幅 度 最 大 贸 易 贷 款 增 33%、 区 域 业 务 稳 🏆 谁 最 亮 眼 ？ 分 维 度 看 ✨ OCBC： 增 长 爆 发 力 最 强 ? 净 利 同 比 +22%， 远 超 预 期 的 约 19亿 ， 增 速 为 三 家 最 高 ? 非 息 收 入 +51%， 保 险 、 交 易 、 手 续 费 全 面 高 增 ， 对 冲 NIM压 力 最 彻 底 ? 股 息 上 调 、 资 产 质 量 稳 健 ， 市 场 反 馈 最 强 （ 盘 后 涨 超 2%） ✨ DBS： 综 合 实 力 与 质 量 最 优 ? 营 收 、 净 利 均 创 单 季 历 史 新 高 ， ROE 17.9% 遥 遥 领 先 ? 财 富 管 理 AUM首 破 5000亿 、 上 调 全 年 营 收 与 非 息 收 入 指 引 ， 成 长 性 更 明 确 ? 派 息 最 慷 慨 且 含 特 别 回 报 ， 资 本 充 足 率 14.6%最 稳 ✨ UOB： 稳 健 达 标 ， 亮 点 偏 少 ? 净 利 +10%、 环 比 +3%， 基 本 符 合 预 期 ? 非 息 增 长 主 要 靠 一 次 性 收 益 ， 核 心 财 富 手 续 费 仅 +5% ? 区 域 贸 易 贷 款 增 长 亮 眼 ， 但 整 体 爆 发 力 与 超 预 期 幅 度 不 及 前 两 家 📌 一 句 话 结 论 ? 要 ?增 长 爆 发 力 ?→ OCBC 最 亮 眼 ? 要 ?规 模 、 质 量 、 指 引 、 分 红 全 面 稳 强 ?→ DBS 仍 是 标 杆 ? 要 ?稳 健 兑 现 、 区 域 布 局 ?→ UOB 合 格 但 无 惊 喜 以 上 为 公 开 财 报 整 理 ， 不 构 成 投 资 建 议 。 需 要 我 再 补 充 三 家 的 股 价 潜 在 影 响 与 关 键 风 险 点 对 比 吗 ？
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MrBear12
Supreme |
07-Aug-2026 08:28
Yells: "Cast all our anxieties on Jesus for He cares for us" |
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this will fly past 30 today!!
DBS fly past 77 |
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s100125
Elite |
07-Aug-2026 07:31
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A very good set of earning results plus an increase in their dividends. | ||||
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hokpin
Supreme |
07-Aug-2026 07:16
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OCBC Group First Half 2026 Net Profit
Grew 13% to a Record S$4.19 billion Second quarter net profit up 22% from a year ago Interim dividend of 47 cents declared, up 15% from 41 cents a year ago |
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Joelton
Supreme |
04-Aug-2026 09:34
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OCBC taps Beijing&rsquo s ZGC to capture Chinese tech interest in Asean [SINGAPORE] OCBC : O39 -0.82%is partnering Beijing state-owned enterprise ZGC International as it aims to secure banking business from high-growth Chinese technology companies expanding into Asean. ZGC manages overseas assets and provides cross-border services to help these firms expand globally. The partnership, signed in Singapore on Friday (Jul 31), grants Singapore&rsquo s second-largest lender direct access to ZGC&rsquo s network of more than 14,000 technology companies. These firms are situated in technology parks and innovation clusters across major Chinese cities, including Beijing, Guangzhou, Shandong and Tianjin. The move comes about a month after China implemented stricter outbound investment rules on Jul 1, which tightened national security reviews for cross-border capital and technology flows. Partnering with a state-owned entity such as ZGC could thus offer OCBC a pre-vetted pipeline of companies aligned with these new compliance standards. It also aligns with the lender&rsquo s broader corporate strategy to capitalise on shifting trade and investment flows between Greater China and Asean, said OCBC. This comes after the bank saw a 50 per cent year-on-year jump in 2025 for the number of new Chinese companies it assisted in establishing an Asean presence, rising from a 30 per cent growth rate in 2024. Targeting high-growth sectors The collaboration will bypass broad outreach to specifically target firms in artificial intelligence, life sciences and health, software services and advanced manufacturing. The bank&rsquo s goal is to identify promising Chinese tech companies and provide them with the necessary market access, business networks and financial solutions to scale across Asean, said Roy Tan, head of enterprise banking international at OCBC. He added that the foundation for the partnership was laid a year ago when OCBC presented its tech-focused banking capabilities to ZGC&rsquo s senior team in Kuala Lumpur. Active engagements of Chinese tech companies are already underway. In June this year, OCBC hosted a matchmaking event at the ZGC Beijing Software Park, connecting with 25 AI and advanced manufacturing firms. Both parties have committed to a recurring schedule of joint events, technology park visits and overseas business delegations. The agreement was signed by Elaine Heng, OCBC&rsquo s head of global commercial banking, and Lu Peng, deputy general manager of ZGC International. The signing ceremony was also attended by representatives from the Economic Development Board, Singapore Chinese Chamber of Commerce & Industry, Business China and CapitaLand Investment : 9CI -0.38%, highlighting a coordinated, state-level effort to anchor Chinese corporate expansion in Singapore. |
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Joelton
Supreme |
01-Aug-2026 16:16
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Citi downgrades OCBC to &lsquo neutral&rsquo despite expecting 2QFY2026 to come ahead of expectations Citi Research&rsquo s Tan Yong Hong has downgraded Oversea-Chinese Banking Corporation (OCBC) to &ldquo neutral&rdquo despite expecting the bank&rsquo s 2QFY2026 results to beat expectations. The report comes as OCBC&rsquo s share price, which has run up over the last month or so, is trading around 50% higher year-to-date as at Tan&rsquo s report dated July 30 (US eastern time). In comparison, shares in DBS and United Overseas Bank (UOB) are up 33% and 25% respectively. &ldquo Post a surge in 3QFY2025 non-interest income growth and new CEO Tan Teck Long&rsquo s aggressive pursuit of growth, investors have expressed their positive sector view via OCBC given technical UW (underweight) in DBS due to single-stock limit, but that is now largely done based on our channel checks,&rdquo says Tan. At this point, the analyst sees that better growth prospects are &ldquo largely priced in&rdquo with OCBC&rsquo s dividend yield spread versus bond yield now [under] 1% versus [the] pre-pandemic sector average [of] 1.5%. &ldquo In our earlier report, we also argued that as investors price in growth for the sector (we expect high single digits to 10% profit growth in FY2027), there could be dividend yield compression over bond yield towards pre-pandemic levels of 1.5%,&rdquo the analyst writes. &ldquo Over the past three years, in FY2024 - FY2026, sector profits have been flat as non-interest income growth is offset by lower rates. However, OCBC is now trading just above 3% dividend yield, which is less than 1.0% spread above Singapore 10-year bond yield, implying that growth profile has been priced in. Given weak equity market sentiments in July, OCBC and the sector could face high-base effect from strong 3QFY2025,&rdquo he adds. Ahead of OCBC&rsquo s results, Tan also sees a possible disappointment in the bank&rsquo s net interest margin (NIM) due to the lower repricing of fixed rate assets and spot Singapore overnight rate average (Sora) normalising to less than 1% compared to the consensus&rsquo &ldquo recent euphoric&rdquo net interest income (NII) and NIM forecast. He also sees negative NIM surprises likely to happen from UOB, given that 20% of its loans are fixed. However, asset yield pressure is well appreciated for DBS given consistent guidance. &ldquo When we raised sector target prices on July 6, we were expecting street to upgrade NII guidance into 2QFY2026 on possible loans growth guidance upgrade to high-single digits,&rdquo he says. &ldquo However, we think [the] Street is likely euphoric to factor in NIM upside from Sora rebound due to loans growth resurgence,&rdquo he adds. &ldquo Singapore is still in a position of excess liquidity, with SGD LDR (Singapore dollar loan deposit ratio) at 66.4% despite loans growth ahead of deposits. Spot Sora has since trended lower and dipped below 1.0% recently,&rdquo he continues. At OCBC&rsquo s results briefing on Aug 7, Tan is expecting management to guide asset yield pressure as well, as fixed rate loans reprice into the second half of the year against limited room for cost of funds (COF) to reprice lower. On July 31, following Great Eastern Holdings&rsquo 2QFY2026 results, Tan expects the insurer&rsquo s earnings to translate to $200 million or 10% of his estimated 2QFY2026 profit estimate for OCBC, although this is driven by mark-to-market gains, which is &ldquo volatile and could unwind&rdquo . Great Eastern reported a quarterly profit of $503 million, up 103% y-o-y and 45.4% q-o-q driven by insurance profit of $286 million (up from $329 million last quarter) and shareholder profit of $217 million (compared to last quarter&rsquo s $17 million). &ldquo The sequential profit increase was driven by normalisation of insurance income with 1QFY2026 seasonally stronger due to adjustments, but normalisation of trading income, likely as Singapore 10-yearr bond yield normalised lower q-o-q, helped unwind some of the 1QFY2026 profit impact,&rdquo notes Tan. &ldquo However, this could be volatile, especially with [the] Singapore 10-year bond yield now higher than 1QFY2026 levels.&rdquo Despite the downgrade, Tan has kept his target price of $28.40. His earnings estimates also remain unchanged at $7.52 billion for FY2026. As at 11.29am, shares in OCBC are trading 9 cents lower or 0.31% down at $29.01. |
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