CGS-CIMB Research analysts Andrea Choong and Lim Siew Khee have the highest target price among the research houses mentioned here. In an Aug 3 note, Choong and Lim are maintaining “add” on OCBC Bank with a higher target price of $15.50 from $14.20 previously.
Following Oversea-Chinese Banking Corporation (OCBC)’s 1HFY2022 ended June results on Aug 3, CGS-CIMB Research analysts say the bank’s asset quality remains resilient.
OCBC reported earnings of $1.48 billion in the 2QFY2022 ended June, 28% higher than earnings of $1.16 billion in the same period the year before. This brings the bank’s earnings for the 1HFY2022 to $2.84 billion, up 7% y-o-y, and said to be a new high for the bank.
