Investments
15Portfolio Exits
1Partners & Customers
10Latest OCBC Bank News
Aug 3, 2022
The bank declared an interim dividend of 28 cents per ordinary share, representing a payout ratio of about 44 per cent. PHOTO: REUTERS https://str.sg/waBP SINGAPORE - OCBC Bank reported on Wednesday (Aug 3) a better-than-expected increase in second-quarter earnings from a year ago as it benefited from rising interest rates. Net profit for Singapore's second-biggest local bank came in at $1.48 billion for the three months to June, up 28 per cent from $1.16 billion for the same period a year ago. It also blew past the $1.26 billion forecast by analysts in a Bloomberg poll. Its latest results reversed a 10 per cent decline in first-quarter earnings that came on the back of lower wealth management fees, trading income and life insurance profit. The bank declared an interim dividend of 28 cents per ordinary share, up from 25 cents last year. Group chief executive Helen Wong said overall economic growth in the bank's key markets is expected to remain positive this year but at a slower pace due to heightened headwinds in the operating environment. She added in the bank's results statement that net interest income reached a new high from loan growth and the bank's balance sheet benefited from rising interest rates. OCBC's second-quarter net interest income rose 16 per cent year on year to a record $1.7 billion, largely driven by asset growth and an expansion in the bank's margin. Net interest margin - a key gauge of banks' profitability - rose 13 basis points to 1.71 per cent as asset yields outpaced higher funding costs amid the rapidly rising interest rate environment. Non-interest income stood at $1.18 billion, up 6 per cent from a year ago mainly from higher trading income and life insurance profit. However, net fee income dropped 15 per cent to $477 million, largely due to lower wealth management, brokerage and investment banking fees, in line with weaker investment sentiments globally. Loan and trade-related fees grew on the back of higher lending and trade volumes, and credit card fees were also higher amid broader reopening of economies and as activities resumed. Ms Wong added: "Despite heightened market volatility, we are pleased to see net new money inflows in our wealth management business, as well as healthy new insurance sales. OCBC's wealth management income - from areas such as insurance, private banking, asset management and stockbroking - grew 8 per cent to $1.03 billion and made up 36 per cent of the group's income in the second quarter. More On This Topic
OCBC Bank Investments
15 Investments
OCBC Bank has made 15 investments. Their latest investment was in AwanTunai as part of their Debt - II on August 8, 2021.
OCBC Bank Investments Activity
Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
8/27/2021 | Debt - II | AwanTunai | $45M | Yes | 1 | |
6/23/2021 | Line of Credit - VII | Gunvor Group | $830M | No | 1 | |
3/9/2020 | Loan | Mapletree Treasury | $310M | Yes | 1 | |
10/3/2019 | Biz Plan Competition | |||||
10/3/2019 | Biz Plan Competition |
Date | 8/27/2021 | 6/23/2021 | 3/9/2020 | 10/3/2019 | 10/3/2019 |
---|---|---|---|---|---|
Round | Debt - II | Line of Credit - VII | Loan | Biz Plan Competition | Biz Plan Competition |
Company | AwanTunai | Gunvor Group | Mapletree Treasury | ||
Amount | $45M | $830M | $310M | ||
New? | Yes | No | Yes | ||
Co-Investors | |||||
Sources | 1 | 1 | 1 |
OCBC Bank Portfolio Exits
1 Portfolio Exit
OCBC Bank has 1 portfolio exit. Their latest portfolio exit was Prospeku on August 30, 2021.
Date | Exit | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Acquirer | Sources |
---|---|---|---|---|---|
8/30/2021 | Spinoff / Spinout | Prospeku | 1 |
Date | 8/30/2021 |
---|---|
Exit | Spinoff / Spinout |
Companies | Prospeku |
Valuation | |
Acquirer | |
Sources | 1 |
OCBC Bank Acquisitions
3 Acquisitions
OCBC Bank acquired 3 companies. Their latest acquisition was HORIZON ASSET MANAGEMENT on February 18, 2021.
Date | Investment Stage | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Total Funding | Note | Sources |
---|---|---|---|---|---|---|
2/18/2021 | Other | Acquired | 2 | |||
5/11/2017 | ||||||
6/5/2014 |
Date | 2/18/2021 | 5/11/2017 | 6/5/2014 |
---|---|---|---|
Investment Stage | Other | ||
Companies | |||
Valuation | |||
Total Funding | |||
Note | Acquired | ||
Sources | 2 |
OCBC Bank Partners & Customers
10 Partners and customers
OCBC Bank has 10 strategic partners and customers. OCBC Bank recently partnered with MVGX on May 5, 2022.
Date | Type | Business Partner | Country | News Snippet | Sources |
---|---|---|---|---|---|
5/27/2022 | Partner | 1 | |||
4/26/2022 | Partner | OCBC partners with MetaVerse Green Exchange to develop green financing solutions Home '' Publications '' Banking News '' OCBC partners with MetaVerse Green Exchange to develop green financing solutions . | 1 | ||
4/25/2022 | Partner | OCBC partners digital exchange MetaVerse Green Exchange to develop green financial solutions OCBC Bank announced today -LRB- April 25 -RRB- a strategic partnership with digital exchange MetaVerse Green Exchange to develop green financing solutions . | 1 | ||
4/11/2022 | Partner | ||||
3/16/2022 | Partner |
Date | 5/27/2022 | 4/26/2022 | 4/25/2022 | 4/11/2022 | 3/16/2022 |
---|---|---|---|---|---|
Type | Partner | Partner | Partner | Partner | Partner |
Business Partner | |||||
Country | |||||
News Snippet | OCBC partners with MetaVerse Green Exchange to develop green financing solutions Home '' Publications '' Banking News '' OCBC partners with MetaVerse Green Exchange to develop green financing solutions . | OCBC partners digital exchange MetaVerse Green Exchange to develop green financial solutions OCBC Bank announced today -LRB- April 25 -RRB- a strategic partnership with digital exchange MetaVerse Green Exchange to develop green financing solutions . | |||
Sources | 1 | 1 | 1 |
OCBC Bank Team
4 Team Members
OCBC Bank has 4 team members, including current Senior Vice President, Sanjiv Talwar.
Name | Work History | Title | Status |
---|---|---|---|
Sanjiv Talwar | Senior Vice President | Current | |
Yew Jin Kang | Hong Leong Bank, AmBank Group, IBM, MetLife, and Accenture | Chief Technology Officer | Former |
Theng Kiat Goh | Chief Marketing Officer | Former | |
Dennis Tan CFP® | Executive Vice President, Senior Vice President | Former |
Name | Sanjiv Talwar | Yew Jin Kang | Theng Kiat Goh | Dennis Tan CFP® |
---|---|---|---|---|
Work History | Hong Leong Bank, AmBank Group, IBM, MetLife, and Accenture | |||
Title | Senior Vice President | Chief Technology Officer | Chief Marketing Officer | Executive Vice President, Senior Vice President |
Status | Current | Former | Former | Former |
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