|Bid||10.71 x 0|
|Ask||10.72 x 0|
|Day's range||10.61 - 10.72|
|52-week range||10.45 - 12.19|
|Beta (3Y monthly)||0.84|
|PE ratio (TTM)||10.20|
|Earnings date||21 Feb 2020|
|Forward dividend & yield||0.50 (4.69%)|
|1y target est||13.94|
About three dozen firms including ride-hailer Grab, Standard Chartered and Singapore Telecommunications are in talks to form consortiums that can meet tough entry norms to bid for Singapore's digital bank licences, sources said. Singapore's biggest liberalisation of its banking sector in two decades seeks to enable online-only banks that can operate at lower costs and therefore offer different services than those of incumbents including DBS Group and OCBC.
Sumitomo Mitsui Financial Group's (SMFG) chances of snapping up Indonesia's PT Bank Permata have improved after two key rivals dropped out of the race to buy the $2.4 billion-valued lender, sources said on Friday. One of the sources said SMFG was in advanced talks to negotiate terms for the purchase of the mid-sized bank, in which Standard Chartered and Indonesian conglomerate PT Astra International each own a 45% stake.
Sumitomo Mitsui Financial Group's (SMFG) chances of acquiring a majority stake in PT Bank Permata have improved after two key rivals dropped out of the race to buy the $2.4 billion-valued Indonesian lender, sources said. While Singapore lender OCBC Group Holdings and DBS Group Holdings Ltd had shown interest in the auction for mid-sized Permata, they are no longer pursing it, the sources, who declined to be named because they were not authorised to talk to the media, said. Reuters reported last week that SMFG and OCBC were working on competing offers and were seen as the frontrunners for Permata.
Net profit came in at 432 billion yen ($4 billion) in April-September compared to 472.6 billion yen a year earlier, SMFG said in a stock exchange filing. For the full year through March, SMFG reiterated its forecast for a profit of 700 billion yen.
DBS Group Holdings, Southeast Asia's biggest lender, reported that higher wealth management fees drove a forecast-beating 15% rise in third-quarter profit, but cautioned growth will slow next year due to the impact of lower interest rates. The Singaporean bank said on Monday it expects its net interest margin, a key gauge of profitability, to fall by about 7 basis points in 2020.
The Singaporean bank's net profit came in at S$1.63 billion ($1.20 billion) in the three months ended Sept. 30, compared with S$1.41 billion a year earlier and an average estimate of S$1.57 billion from five analysts, according to Refinitiv data. Net interest income rose 8% to S$2.46 billion in the quarter, while net interest margin came in at 1.90%. Singapore's banks face a challenging outlook as interest rates soften and lending moderates after robust growth in recent years.
Sumitomo Mitsui Financial Group (SMFG) and Singapore lender OCBC Group Holdings are vying to buy Indonesia's PT Bank Permata and are working on respective offers, sources familiar with the matter said on Thursday. Japanese and other Asian banks are increasingly targeting a presence in Indonesia in the hope of tapping an emerging middle class in the country with a population of 260 million people.
Oversea-Chinese Banking Corp Ltd, Singapore's second-biggest listed bank, said quarterly profit fell 6%, hurt by a one-off charge for its Indonesian unit that overshadowed growth for its wealth management and lending businesses. In particular, higher wealth management fees helped offset a challenging environment as Singapore narrowly dodged a recession in the third quarter due to the trade war between the United States and China - two of the city-state's biggest export markets. Net profit came in at S$1.17 billion ($861 million) for the July-September quarter, the lowest level in three quarters but in line with a S$1.19 billion average estimate of five analysts, according to data from Refinitiv.
OCBC Bank has been investing in capabilities, human resources, and technology to up its game. Here’s why I believe the bank has the potential to be a long-term winner for investors.
Investors interested in how Oversea-Chinese Banking Corporation Ltd (SGX: O39) is performing in its business should look into these four indicators.