OCBC’s 4Q2022 results were lower than expectations with net profit of S$1.31bn vs our estimate of S$2.03bn. This was mainly due to net interest income growth of 34% YoY (S$2.39bn), NIM growth of 79bps YoY to 2.31% and loans growth of 2% YoY (S$295bnn) offset by non-interest income dipping 42% YoY (S$615mn). 4Q22 dividend is up 43% YoY to 40 cents, total FY22 dividend at 68 cents (+28% YoY).
Given PhillipCapital’s presence in Asia and beyond, PYTCH delivers news in the local marketsthrough the power of creativity. A portal into all things finance, with interviews, keyword explanations, as well as daily news updates with only a click away.
Your Daily Dose of Financial News
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.