Wealth Management and Insurance Are Key Growth Drivers for OCBC
There is no change to our long-term thesis after our latest meeting with Singapore banks. We continue to see the three Singapore banks as benefactors of long-term growth regionally. Our forecasts and fair values remain unchanged, ahead of the first-quarter result because we have factored in an increase in net interest margins and mid-single-digit loan growth. With resilient resilient economic conditions, we expect non-performing loans and credit costs to be benign. A slight uptick is expected co...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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