Singapore, Feb 2, 2026, 15:01 SGT — Regular session.
- OCBC shares fall about 1.4% in mid-afternoon trade, extending a pullback in Singapore bank stocks.
- Risk-off selling spread across markets after a sharp drop in precious metals, analysts said.
- Investors are turning to the earnings calendar for the next read on margins, credit costs and payouts.
Shares of Oversea-Chinese Banking Corporation Ltd fell about 1.4% to S$20.94 by 2:40 p.m. in Singapore, after trading in a S$20.93–S$21.33 range during the session. The stock last closed at S$21.23 and has traded between S$14.35 and S$21.44 over the past year. DBS Group Holdings was down about 1.1% and United Overseas Bank slipped about 0.4%. (Google)
The decline came as a collapse in precious metals spilled into broader markets in Asian trade. “It’s risk off and de-leveraging,” said Christopher Forbes, head of Asia and Middle East at CMC Markets. Mark Matthews at Julius Baer said the move in metals had “gone parabolic” before profit-taking snowballed. (Reuters)
The selling landed as investors look ahead to a packed stretch of bank results. DBS is due to report fourth-quarter 2025 results on Feb. 9, while United Overseas Bank has flagged Feb. 24 for its FY25/4Q25 results, according to their investor calendars. (DBS Bank)
That puts the spotlight back on bank basics. Investors will watch net interest margin — the gap between what a bank earns on loans and pays on deposits — for signs pricing power is fading, or holding up.
Loan growth, fee income and credit costs will matter too, especially after a strong run in Singapore lenders. Any steer on dividends or buybacks can move the stock quickly when the market is nervous.
OCBC is Singapore’s second-largest bank and a heavy weight in local benchmarks. When it last set out its outlook, it projected mid-single-digit loan growth for 2025 and said its net interest margin could weaken to around 2%. Group CEO Helen Wong said: “We are committed to continue to grow our business, stay through the uncertainties,” as the bank unveiled a S$2.5 billion capital return plan tied to 2024 and 2025 net profit. (Reuters)
Monday’s drop still leaves the stock close to its one-year high. But it is a reminder that profit-taking can show up fast when global markets start forcing people to cut risk.
The downside case is straightforward: if market stress deepens, banks can face slower credit demand and higher provisions for bad loans. A sharper squeeze on margins would add pressure.
The next catalyst is the results cycle. OCBC will announce its full-year 2025 financial results on Feb. 25 before the trading market opens, a Singapore Exchange filing showed. (Sgx)
