Singapore Bank OCBC's Shares Hit Record High on Strong Wealth Management Performance

TigerNews_SG
12-02

Shares of Oversea-Chinese Banking Corp. (OCBC) reached a new all-time high, driven by strong performance in its wealth management division, analysts noted.

OCBC's stock rose by as much as 0.6%, surpassing its previous peak from over two weeks ago. While the bank has lagged behind Singapore’s benchmark Straits Times Index and its largest peer, DBS Group Holdings Ltd., year-to-date, it has outperformed both since early November.

Macquarie Capital’s Head of ASEAN Equity Research, Jayden Vantarakis, attributed OCBC’s share strength to "exceptional performance in its wealth management business and the potential for higher dividends in 2026." He added, "We see room for the stock to narrow its gap with DBS."

Singaporean equities have hit record levels this year amid an influx of liquidity, as investors seek refuge from global trade tensions and expectations of Federal Reserve rate cuts. The country’s three largest banks, which make up roughly half of the benchmark index, have benefited from robust wealth management and trading fee income.

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