Broker Name: DBS
Date of Report: 21 April 2026
Excerpt from DBS report
Report Summary
- Actionable BUY call: Maintain BUY on OCBC.
- Target Price: SGD25.50, representing 1.7x FY27F P/BV.
- Key Idea: Singapore banks’ dividends and stable capital returns in SGD remain attractive. Wealth management is a key driver for FY26F, with inflows emerging as a new catalyst. Trading and markets income expected to benefit from heightened volatility in 1Q26.
- Other Highlights: OCBC grew FY25A loans ahead of peers; trajectory could continue into FY26F. More provisions may be set aside to buffer for current macroeconomic conditions.
- Frasers Centrepoint Trust: Potential sale of White Sands mall for >SGD470m (+9% premium to last valuations) and a 4.5% exit yield.
above is an excerpt from a report by DBS. Clients of DBS can be the first to access the full report from the DBS website : https://www.dbs.com/insightsdirect/country/CN458e4cbc78201c1aec5fc53a31c59378?pagesec=whatsnew&pagesecid=30522
