OSK-DMG raises OCBC net profit forecast after strong 3QFY13 rebound

Net profit up 5% to S$759m.

Research firm OSK-DMG has raised its FY14 net profit forecast for OCBC by 6% on a lower credit cost assumption after the bank released a robust set of 3QFY13 results.

OCBC’s 3QFY13 net profit of S$759m met market expectations, rising 5% yoy, on the back of stronger contribution from Great Eastern (GE) as well as the unrealised mark-to-market gains in GE's non-participating fund, said OSK-DMG.

But relative to 2013, next year will see slower growth as the bank grapples with the impact of various property cooling measures rolled out by the Monetary Authority of Singapore.

Already, OCBC management has guided for 2014 loan growth of a high single digit, which is notably slower than that in 2013.

"Already, OCBC is seeing a 30% yoy drop in residential mortgage applications and thinks that the impact
on loan growth would start to be felt in 2H2014. The group remains open for potential M&A activities, especially if these involve any of OCBC’s four key markets of Singapore, Malaysia, Indonesia and Greater China," added OSK-DMG.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia