SINGAPORE, Jan 30, 2026, 14:53 SGT — Regular session.
- OCBC shares held steady at S$21.35 in the afternoon, following a brief spike to S$21.44 earlier.
- Citi’s new securities lending rollout shines a spotlight on an emerging fee category
- Traders are focusing on rate signals and analysts’ forecasts for February results
Shares of Oversea-Chinese Banking Corporation Limited (OCBC) stood firm at S$21.35 by 2:43 p.m. in Singapore, after touching a session high of S$21.44 earlier. The stock kicked off the day at S$21.40 and dipped to a low of S$21.33, with roughly 1.54 million shares traded. (ShareInvestor)
Price action stayed steady a day after Singapore’s central bank held monetary policy steady but signaled upside risks to inflation and demand. OCBC economist Selena Ling called the tone “a tad more hawkish and less dovish,” despite the central bank noting “fragilities” in the global economy. (Reuters)
The rate debate is crucial for bank stocks since it affects the gap between loan earnings and deposit costs. OCBC is approaching a packed earnings and dividend season, with investors eager to see if the “higher for longer” narrative is losing steam or merely taking a breather.
OCBC announced Wednesday the launch of a securities lending programme via Citi’s Securities Lending Access platform. This lets brokerage clients lend out idle securities to institutional borrowers for a fee. Securities lending, commonly used to facilitate short selling, arbitrage, and hedging, involves loaning shares in exchange for payment. Kenneth Lai, OCBC’s head of global markets, said, “Securities lending brings benefits such as higher trading volumes, price discovery and market efficiency.” (OCBC)
Citi announced the programme is now available to OCBC Securities customers and will roll out to Bank of Singapore clients in 2026. “We are proud to work with a leading Singapore institution like OCBC,” said Mridula Iyer, Citi’s Asia South head of Services. (Citi)
Broker notes have kept local lenders in focus. OCBC’s consensus target price from 17 analysts climbed 3.1% last week to S$20.70, though it remains below the stock’s latest closing price, according to The Business Times. Macquarie Equity Research’s Jayden Vantarakis stuck with an “outperform” rating on OCBC and bumped his target to S$21.50, the report added. (The Business Times)
RHB boosted its target price for OCBC to S$21.30 but maintained a “neutral” rating, expecting single-digit earnings growth year on year when the bank announces results on Feb. 25. The broker also projected a final dividend of S$0.575 per share, bringing full-year FY2025 dividends to S$0.985 and signaling a 60% payout ratio, according to the Business Times. (The Business Times)
The stock is hovering near recent highs, leaving little room for error. A bigger hit to net interest margins or a rise in credit costs could put the rally under pressure. Meanwhile, new fee streams such as securities lending might take a while before making an impact on the financials.
On Feb. 25, OCBC will release its full-year results. Investors will be focused on any updates about margins, capital returns, and whether management sees early progress in their securities lending efforts.
