OCBC Likely Outperforming on Share Buybacks -- Market Talk

Dow Jones
04/02

0039 GMT - Oversea-Chinese Banking Corp. is likely outperforming peers due to its recent share buybacks, says Citi analyst Tan Yong Hong in a note. The Singapore lender has bought back 600,000 shares a day across 10 trading days since March 17, he notes. The buybacks are likely to fund OCBC's employee share options reserves, says Tan. OCBC is well-positioned to capture deposit flows given its subsidiary Bank of Singapore's presence in the Middle East, he notes. However, he prefers DBS Group among Singapore lenders as it is also likely to buy back shares for its employee share plans, though it hasn't made any buybacks so far this year. OCBC shares last closed 2.6% higher at S$22.55.(megan.cheah@wsj.com)

 

(END) Dow Jones Newswires

April 01, 2026 20:39 ET (00:39 GMT)

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