Singapore, Jan 31, 2026, 14:58 SGT — Market closed.
- OCBC last ended down 0.6% at S$21.23, easing off an intraday high of S$21.44.
- Analysts have lifted target prices for Singapore’s big banks after the rally pushed the STI to fresh peaks.
- MAS kept policy settings unchanged this week and flagged upside risks, keeping the rate outlook in play for bank earnings.
Shares of Oversea-Chinese Banking Corporation Limited (OCBC) (O39.SI) closed at S$21.23 on Friday, down 0.56%, after trading between S$21.21 and S$21.44. (StockAnalysis)
The move capped a choppy stretch after Singapore’s three listed banks helped drive the Straits Times Index to new highs and brokers nudged targets higher. OCBC’s 17-analyst consensus target price rose 3.1% over the past week to S$20.70, though it still sits below the stock’s latest levels, The Business Times reported. (The Business Times)
Macro still sits behind the tape. The Monetary Authority of Singapore kept its exchange-rate policy settings unchanged on Thursday and warned growth and inflation risks were “tilted to the upside”, with OCBC economist Selena Ling calling the statement “a tad more hawkish”. (Reuters)
Away from rates, OCBC has been pushing into fee lines. It rolled out a securities lending program — letting customers lend out idle securities to institutional borrowers for a fee — using Citigroup’s Citi Securities Lending Access platform, with coverage for OCBC Securities clients and Bank of Singapore customers, the bank said. (ShareInvestor)
In a separate filing, OCBC said it used 1,672 treasury shares for employees’ share schemes on Jan. 30, lowering the number of treasury shares it held to 10,777,420. Treasury shares are stock the company already holds and can use for purposes such as staff awards. (ShareInvestor)
For investors, the bigger swing factor remains the rate cycle. Net interest margin — the gap between what a bank earns on loans and pays on deposits — can narrow fast when funding costs fall or competition for deposits heats up.
The February results run will put fee momentum and asset quality in the same frame. Analysts will be looking for any shift in credit costs — money set aside for possible bad loans — and whether trading and wealth fees can offset the usual fourth-quarter seasonal lull.
But the rally has left less room for sloppy numbers. Any surprise jump in provisions, a weaker outlook for loan growth, or a sharper drop in yields could turn a mild pullback into something messier.
The next hard catalyst is OCBC’s scheduled release of its 2025 full-year results on Feb. 25, when the bank is due to update on margins, credit trends and capital returns. (Ocbc)
