Mithrandir77 12. August Name: Oversea-Chinese Banking Corporation Limited ISIN/WKN: SG1S04926220/A0F452 Webseite: https://www.ocbc.com/group/investors/index.page Zitat Corporate Profile OCBC Bank is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is now the second largest financial services group in Southeast Asia by assets and one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s. Recognised for its financial strength and stability, OCBC Bank has been ranked Asean’s strongest bank and among the world’s five strongest banks by Bloomberg Markets for five consecutive years since the ranking’s inception in 2011. OCBC Bank and its subsidiaries offer a broad array of commercial banking, specialist financial and wealth management services, ranging from consumer, corporate, investment, private and transaction banking to treasury, insurance, asset management and stockbroking services. OCBC Bank’s key markets are Singapore, Malaysia, Indonesia and Greater China. It has over 630 branches and representative offices in 18 countries and regions. These include the more than 330 branches and offices in Indonesia under subsidiary Bank OCBC NISP, and more than 90 branches and offices in Hong Kong, China and Macau under OCBC Wing Hang. OCBC Bank’s private banking services are provided by its wholly-owned subsidiary Bank of Singapore, which operates on a unique open-architecture product platform to source for the best-in-class products to meet its clients’ goals. OCBC Bank's insurance subsidiary, Great Eastern Holdings, is the oldest and most established life insurance group in Singapore and Malaysia. Its asset management subsidiary, Lion Global Investors, is one of the largest private sector asset management companies in Southeast Asia. Annual Report 2023 OCBC Group First Half 2024 Net Profit Up 9% to a Record S$3.93 billion OCBC Q2 profit up 14% to $1.94 billion, bank to weigh its options for Great Eastern Zitat On OCBC’s bid to acquire the rest of Great Eastern Holdings (GEH) and delist the insurer, group chief executive officer Helen Wong said the bank will continue to evaluate its options. It will do so over the three months from July 23, when the bank announced that minority shareholders who had not sold their shares to the bank could still do so under the terms of the offer. OCBC’s offer closed on July 12 with the bank holding 93.32 per cent of GEH’s shares, not enough to trigger a compulsory acquisition. GEH has been suspended from trading since July 15, when the number of its shares in public hands fell below the 10 per cent free float threshold. Ms Wong said on Aug 2 that any future offer for GEH will be in the interest of OCBC and its shareholders. GEH shareholders have until Oct 23 to accept OCBC’s offer on the same terms under the bank’s bid in May. Separately, GEH said on Aug 2 that it was granted an extension of time to restore its public free float, until the final shareholding of OCBC is known after Oct 23. Aktuell versucht die Bank den Versicherer Great Eastern vollständig zu übernehmen. Zitat Here’s the thing. If and when OCBC crosses the 90 per cent suspension point, SGX will halt trading of GE shares after July 12. But the counter will remain listed, assuming OCBC has not received 75 per cent acceptances to take its stake to 97 per cent. At this point, those still holding GE shares will be in a limbo. They can’t sell because trading is suspended. They can’t get out because GE can’t delist in the absence of an exit offer for the remnant shareholdings. The campaign to extract a higher payout could instead lead to the prisoner’s dilemma of game theory, where everyone is hurt by a sub-optimal outcome. Great Eastern shareholders who hold out on OCBC offer could face long wait for next exit Diesen Beitrag teilen Link zum Beitrag
Mithrandir77 8. November OCBC says 2024 targets on track after Q3 profit beats forecast with 9% rise to $1.97 billion Zitat OCBC said it was firmly placed to achieve its 2024 targets after posting a 9 per cent rise in third-quarter net profit that beat market expectations. Southeast-Asia’s second-largest lender by assets after compatriot DBS said July-September net profit increased to $1.97 billion from $1.81 billion a year earlier, beating the mean estimate of nearly $1.91 billion from analysts polled by LSEG. OCBC said it was set to achieve full-year net interest margin, a key profitability gauge, at around the 2.2 per cent level, as well as low single-digit loan growth, full-year credit costs in the range of 20 basis points and return on equity above 14 per cent. OCBC’s improved performance was also driven by increased wealth management activity that lifted fee and trading income, in addition to higher insurance income and lower allowances. Net interest margin was however lower at 2.18 per cent during the quarter from 2.27 per cent a year earlier, a trend similar with DBS and UOB too. OCBC’s return on equity rose slightly to 14.1 per cent in the third quarter from 14 per cent in the same period of 2023. Diesen Beitrag teilen Link zum Beitrag
