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OCBC Bank Last:23.23 -

OCBC

Finally it has broken the $12.50 resistance ...Hopefully by end of the week it'll go pass $13.

Still far from over $13

incirent ( Date: 19-Nov-2022 23:52) Posted:

Looking at the current situation, $13 is reachable by Christmas and $14 in April. 2023. If China relax the 0 policy and US/China strike something positive, $15 will be a windfall. I sincerely hope that 2023 will be a prosperous year for us all at the OCBC counter.

What I am relatively certain is that OCBC may offer a higher dividend for full year 2022 result in early Feb ....so a nice CNY angpow.
My guess is min 30c ( from 28c) or even lucky a 35c .
Let see.

incirent ( Date: 19-Nov-2022 23:52) Posted:

Looking at the current situation, $13 is reachable by Christmas and $14 in April. 2023. If China relax the 0 policy and US/China strike something positive, $15 will be a windfall. I sincerely hope that 2023 will be a prosperous year for us all at the OCBC counter.

Ocbc is really the laggard bank stock... It can't even break 12.50!

pikachu ( Date: 21-Nov-2022 06:57) Posted:

haha.. hope so. I have many bank stocks

Looking at the current situation, $13 is reachable by Christmas and $14 in April. 2023. If China relax the 0 policy and US/China strike something positive, $15 will be a windfall. I sincerely hope that 2023 will be a prosperous year for us all at the OCBC counter.

Depend on yr defination of Soon .
If after full year result in early feb....should be no issue.
Dyodd

Hector ( Date: 18-Nov-2022 09:39) Posted:

can we see OCBC reaching back to $13 level sooner?

Ocbc is always the one lagging behind.. The 2 big brothers already surged so much recently n Ocbc is still not moving much. Of coz all the 3 banks announced good results recently..

Joelton ( Date: 05-Nov-2022 12:21) Posted:

OCBC reports record quarterly earnings of $1.6 billion, up 31% y-o-y

Oversea-Chinese Banking Corporation has joined the other two local banks in reporting record quarterly earnings, as higher interest rates lifted the bottomline.

For its 3QFY2022 ended Sept 30, OCBC reported earnings of $1.6 billion, up 31% y-o-y revenue was up 23% y-o-y to $3.15 billion.

For 9MFY2022, the bank' s earnings increased by 14% y-o-y to $4.44 billion.

With rising rates on one hand and trailing funding costs on the other, OCBC' s net interest margin increased by 54 basis points to 2.06% for 3QFY2022. This helped lift quarterly net interest income to more than $2 billion for the first time, with a gain of 44% y-o-y to $2.10 billion.

However, non-interest income for the same period was down 4% y-o-y to $1.05 billion. Net fee income, for one, was down 20% y-o-y to $453 million, as the bank' s wealth management customers not as active amid the " risk-off" market environment.

The decline was partly offset though, by growth in other fee segments including credit card, and loan and trade-related fees.

The bank made total allowances of $154 million, lower by 6%.

Its CET1 capital adequacy ratio for 3QFY2022 was 14.4%, versus 15.5% the year earlier.

Helen Wong, the bank' s group CEO is pleased to have delivered a strong set of quarterly results.

" While subdued customer investment activity impacted wealth fees, we continued to attract net new money inflows into our wealth management franchise," she says.

" Our portfolio quality remained resilient and our investments to drive franchise growth, raise productivity and deliver operational efficiencies continue to yield positive results.

" Looking ahead, the global economic outlook is expected to be increasingly challenging. Backed by our strong balance sheet, we are well-positioned to support our customers and capture opportunities as they arise," says Wong.