OCBC's 1Q Net Interest Income May Be Muted on Subdued Loan Growth -- Market Talk

Dow Jones04-17

0652 GMT - OCBC's 1Q net interest income may be muted due to subdued loan growth, RHB Research's Singapore Research team says in a note, as the team maintains the stock's neutral rating. The bank's 1Q loan growth is likely to be within its low-single-digit guidance as growth from corporate non-trade and mortgage segments is offset by soft trade loans, the team says. However, OCBC's asset quality appears stable, and given its high loan-loss coverage level, RHB wouldn't be surprised if OCBC's cost of credit stands at lower end of the bank's guided range. To partly reflect its lowered equity risk premium assumption for OCBC, RHB raises its target price to S$13.90 from S$13.10. Shares are 0.4% higher at S$13.57. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

April 17, 2024 02:52 ET (06:52 GMT)

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However, OCBC's asset quality appears stable, and given its high loan-loss coverage level, RHB wouldn't be surprised if OCBC's cost of credit stands at lower end of the bank's guided range. To partly reflect its lowered equity risk premium assumption for OCBC, RHB raises its target price to S$13.90 from S$13.10. Shares are 0.4% higher at S$13.57. (ronnie.harui@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 17, 2024 02:52 ET (06:52 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>OCBC's 1Q Net Interest Income May Be Muted on Subdued Loan Growth -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOCBC's 1Q Net Interest Income May Be Muted on Subdued Loan Growth -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-17 14:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>0652 GMT - OCBC's 1Q net interest income may be muted due to subdued loan growth, RHB Research's Singapore Research team says in a note, as the team maintains the stock's neutral rating. The bank's 1Q...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0821914370.USD","symbol_name":"贝莱德亚洲成长领袖A2","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2428236189","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2428236189","pubTimestamp":1713336720,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0652 GMT - OCBC's 1Q net interest income may be muted due to subdued loan growth, RHB Research's Singapore Research team says in a note, as the team maintains the stock's neutral rating. 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The bank's 1Q loan growth is likely to be within its low-single-digit guidance as growth from corporate non-trade and mortgage segments is offset by soft trade loans, the team says. However, OCBC's asset quality appears stable, and given its high loan-loss coverage level, RHB wouldn't be surprised if OCBC's cost of credit stands at lower end of the bank's guided range. To partly reflect its lowered equity risk premium assumption for OCBC, RHB raises its target price to S$13.90 from S$13.10. Shares are 0.4% higher at S$13.57. 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