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Oversea-Chinese Banking Corporation Ltd (OCBC.SI)

OCBC.SI on Stock Exchange of Singapore

10.43SGD
26 May 2017
Change (% chg)

$-0.04 (-0.38%)
Prev Close
$10.47
Open
$10.42
Day's High
$10.45
Day's Low
$10.42
Volume
9,152,900
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5,868,439
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$10.65
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$8.22

Latest Key Developments (Source: Significant Developments)

OCBC Bank to acquire National Australia Bank's private wealth business in Singapore and Hong Kong
Wednesday, 10 May 2017 10:30pm EDT 

May 11 (Reuters) - Oversea-Chinese Banking Corporation Limited :OCBC Bank to acquire National Australia Bank's private wealth business in Singapore and Hong Kong.entered into an agreement to acquire National Australia Bank's private wealth business in Singapore and Hong Kong.Purchase consideration will be at around book value.business will be earnings accretive to ocbc bank within first year of completion..Transaction, expected to be completed before end of year subject to regulatory approval.addition of us$1.7 billion (s$2.39 billion) of mortgage loans will increase overall size of ocbc bank's mortgage portfolio by about 4 per cent.transaction is not expected to have a material impact on OCBC Bank's capital position.OCBC Bank will immediately derive interest income from acquired mortgage loans upon completion.more than half of mortgage loans are booked in hong kong and will be transferred to OCBC Wing Hang in Hong Kong.remaining mortgage loans, booked in singapore, will be transferred to ocbc bank..  Full Article

OCBC says loan growth will be in mid-single digit in 2017 vs 2016
Monday, 8 May 2017 10:37pm EDT 

May 9 (Reuters) - Oversea-chinese Banking Corporation Ltd :OCBC CEO says loan growth will be in mid-single digit in 2017 versus 2016.  Full Article

Oversea-Chinese Banking Corporation reports Q1 NPAT of S$973 mln
Monday, 8 May 2017 07:01pm EDT 

May 9 (Reuters) - Oversea-chinese Banking Corporation Ltd :Net interest income of S$1.27 billion for Q1 was 3% lower as compared to S$1.31 billion a year ago.Net profit after tax of S$973 million for Q1 of 2017.Total net allowances for loans and other assets for 1q17 were S$168 million, as compared to S$167 million a year ago."We remain watchful to persistent headwinds in operating environment".Common equity tier 1 capital adequacy ratio, tier 1 CAR and total CAR as at 31 March 2017, were 13.3%, 14.2% and 16.5% respectively.Qtrly net interest margin contracted 13 basis points from 1.75% a year ago to 1.62%.At end-March overall NPL ratio was 1.3%.  Full Article

Oversea-chinese Banking Corporation sells two units for S$38 mln
Tuesday, 11 Apr 2017 05:07am EDT 

Oversea-chinese Banking Corporation Limited: Sale Of Entire 100% Equity Interests In Two Subsidiary Companies . Deal for an aggregate cash consideration of S$38 million on a debt-free, cash-free basis . Upon completion of sale shares, BCS and BCSIS will cease to be subsidiaries of OCBC Bank. . Entered into a sale and purchase agreement . Sale of sale shares is not expected to have a material impact on EPS of group for financial year ending 31 Dec 2017 .Deal to sell interests in Banking Computer Services Pvt Ltd and BCS Information Systems to network for electronic transfers.  Full Article

Oversea-Chinese Banking Corporation announces unit's sale of 33.33 pct stake in Hong Kong Life Insurance Ltd
Monday, 20 Mar 2017 10:09am EDT 

Oversea-Chinese Banking Corporation Limited : Ocbc Wing Hang Bank Limited's Sale Of 33.33% Stake In Hong Kong Life Insurance Limited . Consideration for sale shares is hk$2,366.7 million . Unit, Ocbc Wing Hang Bank entered into a share sale agreement to sell its 33.33% stake in capital of Hong Kong Life Insurance Ltd . Unit to sell its 140 million ordinary shares in capital of Hong Kong Life Insurance Limited to First Origin International Ltd .Under terms of agreement, OWHB shall enter into distribution agreement to distribute products of Hong Kong Life in Hong Kong.  Full Article

Oversea-Chinese Banking Corporation prices 500 mln euros of fixed rate covered bonds due 2022
Tuesday, 14 Mar 2017 07:01pm EDT 

Oversea-Chinese Banking Corporation Ltd : Ocbc Bank Priced Eur 500 Million 0.25 Per Cent. Covered Bonds Due 2022 . Net proceeds from issue of covered bonds will be used for general corporate purposes of ocbc bank . Covered bonds are expected to be issued on 21 march 2017 . Guarantee will be secured by portfolio of assets purchased by red sail from ocbc bank and other assets of red sail . Application will be made for listing of covered bonds on singapore exchange securities trading limited .Covered bonds are expected to be listed on sgx- st on 22 march 2017.  Full Article

OCBC shares fall 2.6 percent after Q4 profit drops
Monday, 13 Feb 2017 08:11pm EST 

OCBC :Shares fall 2.6 percent after company reports drop in Q4 profit.  Full Article

Oversea-Chinese Banking says qtrly net interest income fell 7 pct
Monday, 13 Feb 2017 06:02pm EST 

Oversea-Chinese Banking Corporation Limited : qtrly net interest income was 7% lower at s$1.25 billion . qtrly net allowances for loans and other assets of s$305 million for quarter were 57% above s$193 million in 4q15. . for q4 of 2016 ("4q16"), net profit after tax was s$789 million, an 18% decrease from same quarter last year . operating environment in 2016 continued to be challenging . group's common equity tier 1 capital adequacy ratio as at 31 december 2016, was 14.7% . total net allowances for loans and other assets were s$726 million in fy16, as compared to s$488 million a year ago . board has proposed a final tax-exempt dividend of 18 cents per share, bringing fy16 total dividend to 36 cents per share . "looking ahead, while headwinds facing broad economy are likely to persist" . "confident that we are well-positioned to support our valued customers through this difficult period" . there continued to be stresses particularly within oil & gas sector which drove increases in non-performing loans and allowances ."uncertain outlook and depressed oil prices particularly impacted oil and gas support services sector".  Full Article

OCBC says Q4 will continue to be difficult for oil and gas sector
Wednesday, 26 Oct 2016 10:22pm EDT 

Oversea-Chinese Banking Corp : Ceo says Q4 will continue to be difficult for the oil and gas sector . Says one-third of specific provisions in Q3 came from oil and gas sector Further company coverage: [OCBC.SI] (Reporting by Saeed Azhar) ((aradhana.aravindan@thomsonreuters.com;)).  Full Article

Oversea-Chinese Banking Corp posts Q3 net profit after tax of S$943 mln
Wednesday, 26 Oct 2016 07:01pm EDT 

Oversea Chinese Banking Corporation Ltd : Net profit after tax of s$943 million for q3 of 2016 ("3q16"). This was 5% above s$902 million a year ago . qtrly non-interest income increased 25% to s$970 million from s$775 million a year ago . q3 net interest income of s$1.23 billion was 6% lower as compared to s$1.32 billion year before . Group's non-performing loans ("npl") ratio was 1.2% as at 30 september 2016, higher from 0.9% previous year . q3 net interest margin was down 4 basis points at 1.62%, from 1.66% in 3q15 . common equity tier 1 capital adequacy ratio ("car"), as at 30 september 2016, were 15.1% . Operating environment for group remains challenging amidst weak economic conditions .No interim dividend on ordinary shares has been declared for q3 ended 30 september 2016.  Full Article

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