EARLYThesis forming — early stage, needs conviction
Investment Thesis
OCBC is Singapore's second-largest bank with strong ASEAN franchise (Indonesia via OCBC NISP, Malaysia, Greater China). The Great Eastern insurance subsidiary provides earnings diversification and capital optimization opportunity (announced privatization). Wealth management growth via Bank of Singapore captures Asian high-net-worth flows. Capital position remains among strongest in region with CET1 above 15%.