Some analysts, like Jonathan Koh from UOB Kay Hian Research, were charmed by OCBC’s “attractive” dividend yield and “comprehensive package”. Following the news, Koh raised his target price — already one of the highest on the street — even further to $21.10 from $20.80 previously, along with a “buy” call.
Oversea-Chinese Banking Corporation’s (OCBC) capital management initiatives were the main focus of its Feb 26 media and analysts briefing, alongside the bank’s ongoing efforts to bring separately-listed insurer Great Eastern Holdings (SGX:G07
) (GEH) completely under its “One Group” strategy and corporate structure.
OCBC’s plan to return $2.5 billion of excess capital to shareholders over two years, announced alongside its financial results for FY2024 ended Dec 31, 2024, divided analysts like it did with shareholders.
