- Revenue dropped 2% to $2.06 billion
- Net Interest Income rose 5% to $1.31 billion
- Net Profit dropped 14% to $856 million.
- Total non-performing loans ratio rose to 1% from 0.9% last quarter.
- NAV was $8.20 (increase by 5.1%)
- Earnings per share was 82.2 cents (down 17.6%)
Sunday, May 1, 2016
OCBC first quarter results - Net Profit at S$856 million
OCBC Bank reported its first quarter results. In summary:
OCBC Bank share price closed down at $8.77 (drop of $0.13).
Is OCBC a bargain at this price?
Personally, I prefer DBS which is trading at a slight discount to its book value. Comparatively, OCBC does provide a slightly higher yield of 4 1% versus DBS 3.9%.
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