The report comes ahead of the release of OCBC’s 3Q17 financial results, which is expected to be announced before market opens on Oct 26.
SINGAPORE (Oct 10): UOB Kay Hian is keeping its “buy” call on Oversea-Chinese Banking Corporation (OCBC) with a target price of $13.38 given expectations the bank could report steady earnings growth for the third quarter of 2017.
“We forecast net profit at $958 million for 3Q17, up 1.6% year-on-year,” says UOB analyst Jonathan Koh in a report on Friday. “We foresee healthy loan growth in 3Q17 driven by trade finance, residential mortgages and investment loans for overseas expansion.”
