In today’s briefing:
- OCBC – Market Capitalization Rising, Unlike Peers | Insurance Is Lack Luster | Credit Costs Seem Low
OCBC – Market Capitalization Rising, Unlike Peers | Insurance Is Lack Luster | Credit Costs Seem Low
- OCBC has seen its mkt cap RISE by ~4% YTD. This is stark contrast to the ~6.5% lower mkt cap at DBS and around 10% lower mkt cap at UOB.
- Net interest income had been strong, and this likely slows, a lot. Other areas are far from strong. Credit costs are up 103% YoY at 9M23.
- Profit from insurance is down 12% YoY and down 16% QoQ, in 3Q23 (Great Eastern). Profit from associates is -1% YoY in the quarter and only +1% YoY
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