Oversea-Chinese Banking Corp Ltd

O39: XSES (SGP)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	SGD 22.00	Ymxwqg	Jzjydzfmx

OCBC Earnings: Net Interest Margins Up From Prior Quarter Following Proactive Management of Funding

Michael Makdad

Nov 10, 2023

We maintain our fair value estimate of SGD 16 for narrow-moat Oversea-Chinese Banking, or OCBC, after its third-quarter earnings announcement. Our fair value estimate implies 1.4 times the 2024 book value and represents a 23% upside.

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