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Finance

Oversea-Chinese Banking Corp. Ltd.

  • 13.65 SGD
  • -0.08
  • -0.58%
  • Singapore
    Apr 20, 2018
  • Ticker
    SES(O39)
  • Prev. close
    13.73
  • Market cap (SGD)
    57,580.70M
  • Market cap (USD)
    43,747.70M
  • Shares
    4,193.78M

Company Background

Oversea-Chinese Banking Corp. (OCBC) was established through a consolidation of Chinese Commercial Bank, Ho Hong Bank and Oversea-Chinese Bank, in 1932. The current largest shareholder is Lee Foundation, a charitable organization in Singapore formed by Lee Kong Chian, one of the three leaders of OCBC at the time of establishment. Lee Foundation owns around 20%. Current CEO Samuel N. Tsien was appointed in April 2012. Tsien was president and CEO of the Asian arm of Bank of America prior to joining OCBC in 2007 as senior executive vice president. He assumed the title of global head of Global Corporate Bank in 2008.

OCBC has been actively seeking to expand its business beyond corporate and commercial banking through mergers and acquisitions. The bank completed its acquisition of ING Asia Private Bank in 2010 to boost its wealth management business. Renamed as Bank of Singapore, it now operates as the private banking arm. OCBC also increased its stake in insurance company Great Eastern Holdings to around 87% in 2008. The acquisition of Hong Kong's Wing Hang Bank in 2014 is part of plans to accelerate business expansion in greater China.

Business Summary

Oversea-Chinese Banking Corp. Ltd. is engaged in the provision of financial and banking services. It operates through the following business segments: Global Consumer/Private Banking; Global Corporate/Investment Banking, Global Treasury and Markets, Insurance, OCBC Wing Hang, and Others. The Global Consumer/Private Banking segment offers checking accounts, fixed deposits, savings, consumer loans, credit cards, wealth management products, and brokerage services. The Global Corporate/Investment Banking segment provides project financing, overdrafts, deposit accounts, trade financing, syndicated loans, advisory services, and cash management. The Global Treasury and Markets segment deals with foreign exchange rates, money market, fixed income and derivatives trading, and structured treasury products. The Insurance segment offers fund management as well as life and general insurance. The OCBC Wing Hang segment engages in commercial banking activities. The Others segment includes property and investment holding operations. The company was founded in 1932 and is headquartered in Singapore.

Financial Highlights

Dec 2017 SGDUSD
Revenue28,681.22M20,776.29M
Gross Profit----
Operating income4,787.22M3,467.80M
Income before tax5,215.72M3,778.19M
Net income4,127.43M2,989.86M
EBITDA----
Diluted EPS0.970.70
Dividends Per Share0.370.26
Total Assets455,095.73M340,538.54M
Total liabilities413,818.45M309,651.62M
Total equity38,509.54M28,815.88M
Operating cash flow4,562.97M3,305.36M
Currency in SGDCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 18,322.35M 20,265.21M 21,547.73M 22,632.36M 28,681.22M
Gross Profit -- -- -- -- --
Operating income 3,491.00M 4,611.23M 4,484.17M 3,805.56M 4,787.22M
Income before tax 3,513.35M 4,651.25M 4,472.16M 3,878.64M 5,215.72M
Net income 2,767.56M 3,841.95M 3,903.10M 3,454.04M 4,127.43M
EBITDA -- -- -- -- --
Diluted EPS 0.75 0.96 0.95 0.82 0.97
Dividends Per Share 0.32 0.35 0.36 0.36 0.37
Total Assets 338,448.38M 401,327.94M 390,292.85M 409,989.84M 455,095.73M
Total liabilities 310,368.90M 367,142.50M 353,681.18M 370,846.96M 413,818.45M
Total equity 25,115.54M 31,096.79M 34,053.80M 36,507.94M 38,509.54M
Operating cash flow 3,710.04M 3,897.70M 4,034.95M 4,190.06M 4,562.97M
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 14,642.37M 15,994.77M 15,668.13M 16,392.57M 20,776.29M
Gross Profit -- -- -- -- --
Operating income 2,789.84M 3,639.51M 3,260.60M 2,756.35M 3,467.80M
Income before tax 2,807.70M 3,671.10M 3,251.86M 2,809.29M 3,778.19M
Net income 2,211.71M 3,032.34M 2,838.08M 2,501.75M 2,989.86M
EBITDA -- -- -- -- --
Diluted EPS 0.60 0.76 0.69 0.59 0.70
Dividends Per Share 0.26 0.27 0.26 0.26 0.26
Total Assets 268,056.70M 302,866.17M 275,115.67M 283,788.91M 340,538.54M
Total liabilities 245,817.29M 277,067.79M 249,308.27M 256,694.78M 309,651.62M
Total equity 19,891.92M 23,467.51M 24,004.37M 25,270.25M 28,815.88M
Operating cash flow 2,964.89M 3,076.34M 2,933.95M 3,034.85M 3,305.36M

Valuation Measures

Dec 2017
PER12.69
ROA0.95%
ROE11.00%
Operating margin16.69%
Profit margin14.39%

Key executives

  • Group CEO & Non-Independent Executive Director: Samuel Nag Tsien
  • Chief Operating Officer: Ching Wei Hong
  • Chief Financial Officer & Executive Vice President: Siew Peng Tan
  • Head-Group Operations & Technology: Khiang Tong Lim
  • Head-Group Legal & Regulatory Compliance: Loretta Yuen

Shareholders

  • LEE FAMILY /OCBC/ (22.2%)
  • Lee Foundation (4.3%)
  • First State Investment Management (UK) Ltd. (2.1%)
  • The Vanguard Group, Inc. (1.9%)
  • BlackRock Fund Advisors (1.4%)
  • Aberdeen Asset Management (Asia) Ltd. (1.1%)
  • Norges Bank Investment Management (0.9%)
  • Kew Estate Ltd. (0.6%)
  • Schroder Investment Management (Singapore) Ltd. (0.5%)
  • Morgan Stanley Investment Management, Inc. (0.4%)

Contact Details

  • Website:http://www.ocbc.com.sg
  • Address: No. 10-00, OCBC Centre East, 63 Chulia Street, Singapore, 049514, Singapore
  • Phone: +65.6318.7222

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Competitors

    Last Updated on 20 Apr, 2018

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