Oversea-Chinese Banking Corp. (OCBC.SI): Asia Financials Corporate Day Takeaways

研报英文原文证据摘录

Oversea-Chinese Banking Corp. (OCBC.SI): Asia Financials Corporate Day Takeaways

Equity Research

18 June 2026 | 10:48PM SGT

Oversea-Chinese Banking Corp. (OCBC.SI): Asia Financials Corporate

Day Takeaways

Melissa Kuang, CFA

+65-6889-2869 |

melissa.kuang@gs.com

Goldman Sachs (Singapore) Pte

Wayne Wang

+65-6889-2866 |

wayne.q.wang@gs.com

Bottom line:

We hosted OCBC’s investor relations team at our Asia Financial Corporate Day today.

Overall, the tone was cautiously optimistic, with OCBC maintaining guidance while

acknowledging an uncertain rate and macro environment. Discussions during the call

centered on wealth momentum and evolving Chinese cross‑border regulations,

alongside NII evolution, asset quality and contribution momentum from Great

Eastern Holdings. OCBC highlighted that (1) wealth remains a key growth driver, with

limited near‑term impact from tighter cross‑border rules; (2) insurance momentum

remains intact though noting 1Q benefited from one‑off items; (3) NII is expected to

decline year on year as per guidance but could remain relatively stable sequentially;

and (4) asset quality remains stable with no immediate concerns.

Key takeaways:

n Wealth continues to be a key focus, with momentum sustained into 2Q.

Management noted that while recent Chinese cross‑border regulatory

developments have introduced additional checks, including stricter declarations

on source of funds, the impact so far has been limited. Most Chinese client assets

are sourced offshore, and the bank’s exposure to onshore Hong Kong flows

remains relatively small, which helps mitigate near‑term disruption. While some

moderation could be seen in June as policies are digested, the broader wealth

growth trajectory remains intact, supported by ongoing investment in