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Finance

Oversea-Chinese Banking Corp. Ltd.

  • 11.05 SGD
  • +0.10
  • +0.91%
  • Singapore
    Sep 18, 2019
  • Ticker
    SES(O39)
  • Prev. close
    10.95
  • Market cap (SGD)
    47,327.88M
  • Market cap (USD)
    34,437.73M
  • Shares
    4,322.18M

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. engages in the provision of financial and banking services. It operates through the following business segments: Global Consumer or Private Banking; Global Corporate or Investment Banking, Global Treasury and Markets, Insurance, OCBC Wing Hang, and Others. The Global Consumer or Private Banking segment offers checking accounts, fixed deposits, savings, consumer loans, credit cards, wealth management products, and brokerage services. The Global Corporateor 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 2018 SGDUSD
Revenue26,081.85M19,329.86M
Gross Profit----
Operating income5,043.17M3,737.61M
Income before tax5,552.41M4,115.02M
Net income4,472.99M3,315.03M
EBITDA----
Diluted EPS1.060.78
Dividends Per Share0.430.31
Total Assets467,683.66M343,128.15M
Total liabilities425,788.92M312,390.99M
Total equity40,639.90M29,816.50M
Operating cash flow4,579.78M3,394.18M
Currency in SGDCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 20,265.21M 21,547.73M 22,632.36M 28,835.96M 26,081.85M
Gross Profit -- -- -- -- --
Operating income 4,611.23M 4,484.17M 3,805.56M 4,619.84M 5,043.17M
Income before tax 4,651.25M 4,472.16M 3,878.64M 5,099.22M 5,552.41M
Net income 3,841.95M 3,903.10M 3,454.04M 4,025.69M 4,472.99M
EBITDA -- -- -- -- --
Diluted EPS 0.96 0.95 0.82 0.95 1.06
Dividends Per Share 0.35 0.36 0.36 0.37 0.43
Total Assets 401,327.94M 390,292.85M 409,989.84M 452,886.88M 467,683.66M
Total liabilities 367,142.50M 353,681.18M 370,846.96M 411,592.05M 425,788.92M
Total equity 31,096.79M 34,053.80M 36,507.94M 38,529.32M 40,639.90M
Operating cash flow 3,897.70M 4,034.95M 4,190.06M 4,574.01M 4,579.78M
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 15,994.77M 15,668.13M 16,392.57M 20,888.38M 19,329.86M
Gross Profit -- -- -- -- --
Operating income 3,639.51M 3,260.60M 2,756.35M 3,346.55M 3,737.61M
Income before tax 3,671.10M 3,251.86M 2,809.29M 3,693.81M 4,115.02M
Net income 3,032.34M 2,838.08M 2,501.75M 2,916.16M 3,315.03M
EBITDA -- -- -- -- --
Diluted EPS 0.76 0.69 0.59 0.68 0.78
Dividends Per Share 0.27 0.26 0.26 0.26 0.31
Total Assets 302,866.17M 275,115.67M 283,788.91M 338,885.70M 343,128.15M
Total liabilities 277,067.79M 249,308.27M 256,694.78M 307,985.65M 312,390.99M
Total equity 23,467.51M 24,004.37M 25,270.25M 28,830.68M 29,816.50M
Operating cash flow 3,076.34M 2,933.95M 3,034.85M 3,313.35M 3,394.18M

Valuation Measures

Dec 2018
PER10.62
ROA0.97%
ROE11.29%
Operating margin19.33%
Profit margin17.14%

Key executives

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

Shareholders

  • LEE FAMILY /OCBC/ (21.4%)
  • Selat Pte Ltd. (11.1%)
  • Lee Foundation (4.3%)
  • The Vanguard Group, Inc. (2.1%)
  • BlackRock Fund Advisors (1.3%)
  • Colonial First State Asset Management (Australia) Ltd. (1.2%)
  • Norges Bank Investment Management (1.1%)
  • Herald Investment Pte Ltd. (1.0%)
  • First State Investments (Hong Kong) Ltd. (0.9%)
  • Aberdeen Standard Investments (Asia) Ltd. (0.6%)

Contact Details

  • Website:http://www.ocbc.com.sg
  • Address: 63 Chulia Street, #10-00 OCBC Centre East, Singapore, 049514, Singapore
  • Phone: +65.6318.7222

Related Companies

  • OCBC Capital Private Equity
  • OCBC Nominees (Hong Kong) Ltd.
  • Church Street Properties Pte Ltd.
  • Bank of Singapore Nominees Pte Ltd.
  • National Australia Bank Ltd /SG & HK Private Wealth Business/
  • Oversea-Chinese Bank Nominees Pte Ltd.
  • OCBC Securities (2001) Nominees Pte Ltd.
  • Oversea-Chinese Banking Corp. Ltd. (Vietnam)
  • Oversea-Chinese Banking Corp. Ltd. (Labuan Branch)
  • PT OCBC Sikap Securities
  • OCBC Nominees Singapore Pte Ltd.
  • Oversea-Chinese Banking Corp. Ltd. (Myanmar)
  • Oversea-Chinese Banking Corp. Ltd. (Hong Kong)
  • OCBC Securities (Melaka) Sdn. Bhd.
  • Oversea-Chinese Banking Corp. Ltd (Bangkok Branch)
  • Oversea-Chinese Banking Corp. Ltd. (Tokyo Branch)
  • BOS Securities Korea Co., Ltd.
  • Oversea-Chinese Banking Corp. Ltd. /Taipei Branch/
  • Oversea Chinese Banking Corp. Ltd. /London Branch/
  • OCBC Pearl Ltd.
  • OCBC Bank Australia
  • Oversea Chinese Banking Corp. Ltd. (Broker)
  • Oversea Chinese Banking Corp. Ltd. /Los Angeles Branch/
  • OCBC Capital Investment (Asia) Ltd.
  • Oversea Chinese Banking Corp. Ltd. /New York Branch/
  • Kim Seng Properties Pte Ltd.
  • E2 Power Pte Ltd.
  • Oversea-Chinese Banking Corp. Ltd. /Sydney Branch/
  • PT Bank OCBC Indonesia
  • OCBC Capital Corp.

Competitors

  • Aegon N.V.
Last Updated on 18 Sep, 2019

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