OCBC Investor Day Highlights Progress on Its Digital Strategy; Valuation Remains Attractive
OCBC’s investor day highlighted the progress of the bank’s digital strategy and prospects going forward. The generally positive economic conditions underpinning income growth over the medium term allow the bank to maintain a consistent level of technology investments, in our view. Management expects the benefit to progressively flow through by 2023, targeting a cost/income ratio of 40% from the current level in the mid-40s. Similar to its peers, income is already benefiting from previous investm...Oversea-Chinese Banking is engaged in the in the business of banking, life assurance, general insurance, asset management, investment holding and stockbroking. Co.'s segments include: Global Consumer Financial Services, which provides deposit products, consumer loans, credit cards and wealth management products; Global Corporate Banking, which provides long-term loans, short-term credit, deposit accounts and fee-based services such as cash management and custodian services; Global Treasury, which is engaged in foreign exchange activities, money market operations, fixed income, as well as structured treasury products; and Insurance, which provides both life and general insurance products.
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