OCBC conservative about FY2025 targets amid trade tensions, uncertainties
Bank’s Q4 net profit is up 4% at S$1.7 billion, while full-year earnings rise 8% to a record S$7.6 billion
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AFTER riding macroeconomic tailwinds to reach record earnings for 2024, OCBC’s management is staying cautious about the year ahead.
Notably, OCBC is maintaining a conservative view of three rate cuts for 2025 – compared with its peers’ expectations of one or two cuts for the year. It believes the volatile environment and heightened trade tensions could impede global growth even as Asean economies remain resilient.
For the financial year 2025, the lender is targeting a net interest margin (NIM) of around 2 per cent and mid-single-digit loan growth.
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