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Overseas Chinese Banking Corporation (OCBC Bank)
04-09-2019, 11:48 AM.
Post: #421
RE: Overseas Chinese Banking Corporation (OCBC Bank)
S'pore banks has a trick to minimize funding cost. The interest rate of 2% of only applicable for fresh funds.
After 1 year, the FD rate will be drastically drop to 0.6%, unless one has the time to keep bank-hopping and get good rates

Is it only a S'pore phenomenon? I feel it's like cheating depositors. Are USA banks allowed to do this?

But as a shareholder, I think it's brilliant to keep the cost of funding low.

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04-09-2019, 12:54 PM.
Post: #422
RE: Overseas Chinese Banking Corporation (OCBC Bank)
The big three banks in spore usually gave poorer fix deposit rates. Go for foreign cimb, maybank or hong leong. Hong Leong gave higher rates and yet no such nonsense as need to put in fresh funds to continue to enjoy the higher rates.

I hope with the introduction of the 5 new digi bank licenses by MAS, fix d rates will be better.

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04-09-2019, 01:00 PM.
Post: #423
RE: Overseas Chinese Banking Corporation (OCBC Bank)
Bibi thanks for the info... I think foreign banks like ICBC also pick up the bad habit... they cut the FD rate to 0.6% after 1 year
With inflation around 3%, those retirees will get leeched

I will try out Hong Leong.

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04-09-2019, 01:27 PM.
Post: #424
RE: Overseas Chinese Banking Corporation (OCBC Bank)
(04-09-2019, 01:00 PM)pencilin Wrote: Bibi thanks for the info... I think foreign banks like ICBC also pick up the bad habit... they cut the FD rate to 0.6% after 1 year
With inflation around 3%, those retirees will get leeched

I will try out Hong Leong.

Is inflation really 3%? 

Anyway, banks (in general) give decent dividend yield. Alternatively can buy their perpetuals, which pay more than FD or even 3%.

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05-09-2019, 08:15 AM.
Post: #425
RE: Overseas Chinese Banking Corporation (OCBC Bank)
wong, no more perpetuals. Almost all delisted
Bank don't need to pay 5% for fund, where they can get it at 0.6%

Inflation is around 3% on average. Just take note of the coffee shop prices, public transport fee hike, school fees, ERP...
I think media hype it down to under 1%, to justify the poor return on CPF OA account. Miserable 2.5%

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08-05-2020, 08:16 AM.
Post: #426
Rainbow  1QFY20 Result Overseas Education Limited
8 May 2020 1Q20 Result for OCBC
https://links.sgx.com/FileOpen/OCBC_1Q20...eID=609791
(click for sgx announcement)

1. profit $698m vs $1.23b FY19 aka drop 43% to 7 year low
2. provisions for credit losses $657m vs $249m FY19 
3. buffer for "stresses expected against the recessionary market outlook" and factored in allowances for a local customer in oil trading sector

Stay home and Stay safe, valuebuddies.

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19-05-2020, 09:02 AM.
Post: #427
Rainbow  RE: Overseas Chinese Banking Corporation (OCBC Bank)
18 May 2020 OCBC ppt tabled in 2020 AGM

(click for ppt)

Stay home and stay safe, everyone.

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14-06-2020, 09:31 AM.
Post: #428
Rainbow  NOM eAGM: Overseas Chinese Banking Corporation (OCBC Bank)
11 June 2020 Meeting minutes and ppt eAGM of OCBC
https://links.sgx.com/FileOpen/OCBC-Minu...eID=617527
"The macro-economic picture provided a backdrop to the Bank's responses in the face of many difficult challenges posed by unprecedented stoppage of economic activities.  The world was currently going through the deepest global recession since the last global depression of 1929 to 1932.  The COVID-19 pandemic had inflicted severe disruptions around the world and across all social and economic activities causing large scale dislocation to global supply chains, halting production, reducing demand and inflicting a huge loss in income."

Stay home and stay safe, valuebuddies.

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28-06-2020, 09:52 AM.
Post: #429
Rainbow  1HFY20 Result: Overseas Chinese Banking Corporation (OCBC Bank)
26 June 2020 To announce 1H20 Result on Friday, 7 August 2020, before the trading market opens OCBC
https://links.sgx.com/1.0.0/corporate-an...5f346db6d5
as at 30 June 2020

Wear mask and keep your distance when going out, valuebuddies.
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