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    O39   SG1S04926220

OVERSEA-CHINESE BANKING CORPORATION LIMITED

(O39)
  Report
Delayed Singapore Stock Exchange  -  05:11 2022-09-26 am EDT
11.94 SGD   -1.16%
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Oversea Chinese Banking : First Half 2022 Results Presentation (722KB)

08/02/2022 | 07:22pm EDT

First Half 2022

Results Presentation

3 August 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.

Agenda

Financial Highlights

Group Net Profit

Group Performance Trends

Appendices: Major Subsidiaries' Results

Note: - Certain comparative figures have been restated to conform with the current period's presentation.

- Amounts less than S$0.5m are shown as "0"; - "nm" denotes not meaningful;

- "na" denotes not applicable;

- Figures may not sum to stated totals because of rounding.

2

Financial Highlights

3

1H22 Performance

Total Income

+1%

Group Net Profit

S$5.52b

YoY

+7%

Net Interest +10%

Non-Interest-10%

S$2.84b

Income

YoY

Income

YoY

YoY

Operating Expenses

Interim Dividend

+7%

S$2.46b

YoY

28 cents

ROE (annualised)

+0.2ppt

11.0%

YoY

Net Interest Margin

Customer Loans

Customer Deposits

1.63%

S$298b

S$349b

+6bps

+8%

+10%

YoY

YoY

YoY

NPL Ratio

Credit Costs

CET1 CAR

1.3%

-0.2ppt

7bps

-19bps

14.9%

-1.2ppt

YoY

YoY

YoY

Performance review

  • Group 1H net profit at new high
  • Net interest income at new high from asset growth and rise in NIM
  • Non-interestincome lower on decline in fee, investment and trading income
  • Higher expenses largely driven by continued investments in talent and technology
  • Sustained momentum in loans and deposits growth
  • NPL ratio declined to 1.3% from 1.5% a year ago
  • Credit costs lower at 7bps led by lower allowances for impaired loans
  • Interim dividend up from 25 cents a year ago

4

Financial Highlights

Performance review

Banking

Wealth Management

Resilient performance across

the Group's diversified

Net Profit (S$m)

+15%

2,095

2,419

968

1,244

1,128

1,175

1H21

1H22

1Q

2Q

NII and Fee Income (S$m)

+4%

2Q22

3,946

4,105

YoY:

2Q22

+29%

YoY:

QoQ:

1,970

2,135

+8%

+6%

QoQ:

+8%

1,975

1,970

1H21

1H22

1Q

2Q

WM Income (S$m) 1/

40%

35%

-11%

2,186

1,944

2Q22

360

412

YoY:

599

+8%

621

567

QoQ:

339

+13%

660

572

1H21

1H22

1Q

2Q

Banking

Insurance

As % of Group income

WM AUM (S$b)

-1%

-0.5%

254

251

250

Jun 21

Mar 22

Jun 22

franchise

2Q22 banking operations net

profit rose YoY, underpinned

by operating profit growth

and fall in allowances

2Q22 WM income increased

8% YoY and 13% QoQ

Customer Loans (S$b)

Customer Deposits (S$b)

and CASA ratio

Insurance

WM AUM lower YoY as net

new money inflows were

+8%

+1%

275

294

298

Jun 21

Mar 22

Jun 22

62.5%

62.7%

60.9%

+10%

+0.2%

317

348

349

Jun 21

Mar 22

Jun 22

Total Weighted New Sales (S$m)

+15%

917

1,056

2Q22

YoY:

535

551

+3%

QoQ:

+9%

382

505

1H21

1H22

1Q

2Q

New Business Embedded Value (S$m) and Margin

42.7% 37.2%

+0.5%

391

2Q22

393

YoY:

193

202

+5%

QoQ:

198

191

+6%

1H21

1H22

1Q

2Q

offset by a drop in market

valuations

Healthy growth in insurance

business with 2Q22 TWNS

and NBEV up YoY and QoQ

1/ Wealth Management income comprises the consolidated income from insurance, private banking, premier private client, premier banking, asset management and stockbroking.

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

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.


© Publicnow 2022
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Financials
Sales 2022 11 645 M 8 156 M 8 156 M
Net income 2022 5 708 M 3 998 M 3 998 M
Net Debt 2022 - - -
P/E ratio 2022 9,57x
Yield 2022 4,85%
Capitalization 54 296 M 38 029 M 38 029 M
Capi. / Sales 2022 4,66x
Capi. / Sales 2023 4,20x
Nbr of Employees 30 809
Free-Float 71,5%
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Technical analysis trends OVERSEA-CHINESE BANKING CORPORATION LIMITED
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TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 12,08 SGD
Average target price 14,07 SGD
Spread / Average Target 16,5%
EPS Revisions
Managers and Directors
Pik Kuen Wong Chief Executive Officer
Siew Peng Tan Chief Financial Officer & Executive Vice President
Sang Kuang Ooi Chairman
Khiang Tong Lim Group COO, Head-Operations & Technology
Loretta Yuen EVP, Head-Group Legal & Regulatory Compliance