Oversea-Chinese Banking (SGX:O39) First Quarter 2024 Results

Key Financial Results

• Revenue: S$3.46b (up 6.7% from 1Q 2023).

• Net income: S$1.98b (up 5.5% from 1Q 2023).

• Profit margin: 57% (in line with 1Q 2023).

• EPS: S$0.44.

All figures shown in the chart above are for the trailing 12 month (TTM) period

Oversea-Chinese Banking Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 5.9%. Earnings per share (EPS) also surpassed analyst estimates significantly.

Looking ahead, revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Banks industry in Asia.

Performance of the market in Singapore.

The company's shares are down 1.1% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 1 warning sign for Oversea-Chinese Banking that you should be aware of.

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