Group Chief Executive Officer

Remarks Group Chief

Remarks

3 August 2022

23 February 2022

OCBC Financial Results

Disclaimer: This presentation should be read as an overview of OCBC's current business activities and operating environment which may contain statements relating to OCBC's growth strategy and future business aspirations. These statements involve risks and uncertainties and should not be solely relied upon by investors or potential investors when making an investment decision. OCBC Bank accepts no liability whatsoever with respect to the use of this document or its content.

Looking Ahead

  • Growth in Asia remains positive
    • Expect continued economic growth in our key markets but at a slower rate
    • Improving unemployment rates in the region
    • Reopening of borders and lifting of Covid-19 restrictions boosting economic activities
    • Accommodative fiscal and monetary policies and easing of lockdowns in China
  • Cautious on near-term headwinds in operating environment
    • Geopolitical conflicts and supply chain bottlenecks slowing global growth
    • Recessionary risks from tightening monetary policies to curb inflation
    • Potential rise in default rates from weakening of asset quality as interest rates rise
    • Ongoing uncertainty from emergence of new Covid-19 variants

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Confident of Our Forward Prospects

  • Positive on FY22 outlook
    • Growth in net interest income from rising interest rates expected to offset near-term pressure on non-interest income
    • Loan growth on track for mid-single digit percentage
    • Continue to be disciplined on discretionary spending
    • Credit costs expected to be on low end of guidance
  • Proactively monitoring and stress testing loan portfolio, asset quality remains resilient
  • Progressing well on sustainability agenda, sustainable financing commitments grew to S$37 billion as at Jun 2022
  • Diversified franchise provides resiliency through cycles
  • Flexibility to navigate uncertainty and strategic priorities with strong capital and balance sheet position

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OCBC - Oversea-Chinese Banking Corporation Ltd. published this content on 02 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2022 23:21:04 UTC.