Stocks In Focus SG (OCBC, UOB, Yangzijiang) – 30/04/15

Overseas-Chinese Banking Corporation (OCBC Bank) reported a 11 percent increase in net profit to $993 million for 1Q15. Net interest income increased 15 percent to $1.25 billion from $1.09 billion a year ago, mainly from robust asset growth. Customer loans rose 20 percent from a year ago to $210 billion, with broad-based growth across the Group’s key customer segments and markets. The Group continued to strengthen its funding position and grew customer deposits by 26 percent to $250 billion from $199 billion in 1Q14

UOB posted a 1.6 percent year-on-year increase in net earnings to $801 million for 1Q15. Net interest income also rose 8.3 percent to $1.2 billion. The liquidity and funding position remains strong and asset quality stayed resilient. Despite a volatile market persisting, the group remains focused on building core franchise for the long-term. The group stays vigilant, nimble and continues to invest in capabilities to serve customers’ evolving needs.

Yangzijiang Shipbuilding reported a 14 percent drop in revenue to RMB3 billion in 1Q15, as the shipbuilding related segment remained the group’s core revenue driver with its RMB2.8 billion contribution. Net profit stands at RMB707 million, a 12 percent drop from last year. As at 30 April 2015, the group’s outstanding order book stands at 114 vessels with total value of US$4.6 billion.

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