Additionally, the analysts forecast a lower y-o-y figure, partyly attributed to a low cost of credit (CoC) of 12 basis points in 1QFY2023.
The Singapore research team at RHB Bank Singapore has kept their “neutral”’ call on OCBC Bank (OCBC SP), raising their target price by 80 cents to $13.90. This is following shifting market expectations causing higher-for-longer interest rates and near-term concerns focused on asset quality from income pressures.
Prior to OCBC Bank’s release of its 1QFY2024 results ended March 31 on May 10, the analysts anticipate the banking group’s profit after tax and minority interest (patmi) in the first quarter to be seasonally higher q-o-q.
