OCBC released its financial results for 2008 yesterday.
It will be interesting to compare OCBC results with DBS results.
Net Profit $1,929m (-15%) $1,749m (-16%)
Net Profit $2,056m1 (-17%) $1,486m2 (-21%)
(Excluding one-time items)
Shareholders’ Funds $24,003m $18,560m
No. of ordinary shares 2,281,440,687 3,126,565,512
as at 30 Jan 2009
Net Assets per share $10.52 $5.93
Share price at 18 Feb $8.10 $4.89
Off-balance sheet items:
Financial derivatives $1,704,717m $365,904m
Net Interest Margin 2.04 2.27
Non-interest/total income 28.7 34.4
Cost/income ratio 43.3 43.7
Loans/deposit 74.5 84.8
NPL3 ratio 1.5 1.5
Returns on assets 0.84% 1.05%
Returns on equity 10.1% 9.9%
Tier 1 CAR4 12.2 5 14.9
Total CAR 16.2 5 15.1
Note: Figures in brackets are changes over previous year.
1 One-time items include restructuring costs, impairment charges for Thai investment, gains on sale of office buildings in Hong Kong and allowance write-back for a Singapore property
2 excludes divestment gains and tax refunds from both periods
3 Non-performing loans
4 Capital Adequacy Ratio
5 CAR of DBS after rights issued on 30 January 2009
Written on 2/19/2009 11:26 AM
Copyright © 2009, the author known as LKT in Singapore.
The material presented is intended to be general and written in layman’s language as much as it is possible. The author shall not be liable for any direct or consequential loss arising from any use of material written. Please seek professional advice from your financial advisor or financial institutions on material written covering financial matters.