Brokers' take

OCBC Bank | Buy (maintained) Sept 5 close: S$10.77 Target price: S$14.48 UOB Kay Hian, Sept 5

We see higher probability of OCBC Bank emphasising its north-bound expansion to increase its 20 per cent stake in Bank of Ningbo (BON), which has a market capitalisation of S$25.6 billion, as and when allowed to do so by the authorities in China.

It will also deploy capital to support expansion to double profit before tax from China's Greater Bay Area (GBA) to S$1 billion by 2023.