The second quarter could also see “solid” momentum in loan growth, underpinned by housing loans, as well as loans towards sectors such as telecommunications, media and technology, and logistics. That said, the team is waiting for the bank to hold its results briefing to see if the run rate for the first half of the year is strong enough to prompt an upgrade by management. In 1QFY2026, OCBC’s loans grew by 8% y-o-y and 7% y-o-y on an annualised basis, both ahead of its mid-single-digit guidance.
The Singapore research team at RHB Bank Singapore is expecting Oversea-Chinese Banking Corporation (OCBC) to report a “decent” set of results for the 2QFY2026 ended June, after meeting with the bank’s management for an update. As such, the team has kept its “buy” call with a higher target price of $29.80 from $26.20 previously.
“For its upcoming results (out Aug 7), we estimate 2QFY2026 patmi could reflect mid-single-digit y-o-y growth, but the q-o-q increase could be more modest,” says the team in its July 9 report.
