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INSURER Great Eastern on Wednesday (Jul 31) posted a 45 per cent increase in net profit to S$280.4 million for the second quarter ended Jun 30, from S$193.2 million in Q2 FY2023.
For the six months ended Jun 30, net profit increased 34 per cent year on year to S$587.1 million, from S$437.2 million. This was driven by higher profit from the insurance business and favourable investment performance in shareholders&rsquo fund, said Great Eastern, an OCBC subsidiary.
H1 earnings per share rose 35 per cent on the year to S$1.24, from S$0.92.
Takeover or not or whether OCBC holdings of GE is 88% or 93% , doesnt make much of a difference . GE made an extra 150m YoY ( H1 24 vs H1 23 ) . If 50% of this additional profit is paid as interim dividen tomorrow , it works out to be about 1.5 cts extra of GE contribution over the previous year .
Lets see the banking arms performance tomorrow .
RL16EGG ( Date: 01-Aug-2024 12:27) Posted:
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Hope they give 45 cents at least tomorrow. A little bit extra to help celebrate National Day.
Echoes ( Date: 01-Aug-2024 09:39) Posted:
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I do not think ocbc q2 result will be fully factored in ge takover, should be 3 qtr with more time.
For q2 results, assuming ocbc a 3% growth in nav (12.64 from 12.27 q1 with p/b 1.18),
eps (1.68 frm ttm 1.63 with p/e 9), price range $14.92-15.12. I think roe should be stable and abt 50% payout ratio.
Yes, I do see the prices of 3 banks to go back to end june on xd, good time to buy again with attractive valuation/support level.
For q2 results, assuming ocbc a 3% growth in nav (12.64 from 12.27 q1 with p/b 1.18),
eps (1.68 frm ttm 1.63 with p/e 9), price range $14.92-15.12. I think roe should be stable and abt 50% payout ratio.
Yes, I do see the prices of 3 banks to go back to end june on xd, good time to buy again with attractive valuation/support level.
Echoes ( Date: 01-Aug-2024 10:23) Posted:
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All 3 counters had a very strong run in the first 2 weeks of July , gaining 7% to 10% in the short span . Too fast too furious .
They had lost half of it since, which is unsurprising , and at current prices it will be back to end June prices after the XD .
Which is not too bad actually , you " gain" the dividens without a loss in your share price in a span of 2 months .
They had lost half of it since, which is unsurprising , and at current prices it will be back to end June prices after the XD .
Which is not too bad actually , you " gain" the dividens without a loss in your share price in a span of 2 months .
FATABA ( Date: 01-Aug-2024 10:06) Posted:
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You have to go back all the way to 2006 ( 18 years ago ) for OCBC to pay a dividen that is lesser than its previous payment .
Interim div FY06 of 11 cts which is lesser that than final div FY05 of 12 cts .
But even then , if you compare the YoY interim and finals , the amount is not reduced .
Even during the financial crisis of 2008 , they up and maintained dividens at 14 cts .
I hope Helen is reading this .
Interim div FY06 of 11 cts which is lesser that than final div FY05 of 12 cts .
But even then , if you compare the YoY interim and finals , the amount is not reduced .
Even during the financial crisis of 2008 , they up and maintained dividens at 14 cts .
I hope Helen is reading this .
UOB is giving 88c and now it has dropped 15c ......imagine after xd on 12th Aug >
DYODD
DYODD
Lol GE result is great . I am exxpecting 45c min and surprise on the upside for OCBC.
But the brightest is still DBS ....a gift before national day LOL
But the brightest is still DBS ....a gift before national day LOL
Echoes ( Date: 01-Aug-2024 09:39) Posted:
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UOB results slightly below my expectations . I had expected the Citi aquisition to start to bear some fruit .
OCBC tomorrow will see a minimum of 42 cts . Not only due to the recent good profits from GE , but also from their dividen trends . If you check back the past 15 years dividens payout , they have never paid a dividen that is lesser than the previous dividen ( except in 2021 where dividen reduction is mandated by MAS ) . The last dividen received ( final div FY23 ) was 42 cents . If tomorrow is lesser than 42 cents , then Helen will be the first CEO to break this trend .
OCBC tomorrow will see a minimum of 42 cts . Not only due to the recent good profits from GE , but also from their dividen trends . If you check back the past 15 years dividens payout , they have never paid a dividen that is lesser than the previous dividen ( except in 2021 where dividen reduction is mandated by MAS ) . The last dividen received ( final div FY23 ) was 42 cents . If tomorrow is lesser than 42 cents , then Helen will be the first CEO to break this trend .
FATABA ( Date: 01-Aug-2024 09:17) Posted:
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UOB first to fire its result ....at best it is flat and icing is the 88c from 85c .
As expected, conservative w 3 c more .......this set of result are already w the incorporation of the visa buy last year.
Hmm I am concern on Xd 12th Aug for UOB ....hope I am wrong .
Separately I think OCBC ( esp w good profit from GE already ) and DBS would be much better ( which they normally are better then UOB )
Awaiting patiently
DYODD
As expected, conservative w 3 c more .......this set of result are already w the incorporation of the visa buy last year.
Hmm I am concern on Xd 12th Aug for UOB ....hope I am wrong .
Separately I think OCBC ( esp w good profit from GE already ) and DBS would be much better ( which they normally are better then UOB )
Awaiting patiently
DYODD
Echoes ( Date: 30-Jul-2024 09:37) Posted:
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DBS just updated their results release its 7 Aug 24 AFTER trading hours .
So
UOB Thurs 1 Aug BEFORE market opens
OCBC Fri 2 Aug BEFORE market opens
DBS Wed 7 Aug AFTER market closes .
So
UOB Thurs 1 Aug BEFORE market opens
OCBC Fri 2 Aug BEFORE market opens
DBS Wed 7 Aug AFTER market closes .
Echoes ( Date: 30-Jul-2024 09:28) Posted:
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Most analysts were expecting a weaker QoQ profits for all 3 banks , reason being they had an exceptional Q1 .
Based on my gut feel , I think DBS will have a lower QoQ ( their Q1 3b will be hard to sustain ) OCBC profits will be more or less the same , and UOB to improve on its Q1 .
My dividen predictions unchanged :
DBS 54 cts.
UOB 90 to 95
OCBC 42 to 44
Based on my gut feel , I think DBS will have a lower QoQ ( their Q1 3b will be hard to sustain ) OCBC profits will be more or less the same , and UOB to improve on its Q1 .
My dividen predictions unchanged :
DBS 54 cts.
UOB 90 to 95
OCBC 42 to 44
Thanks for the heads up for the earnings report on DBS.
Echoes ( Date: 30-Jul-2024 09:28) Posted:
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DBS is 7th Aug (Wed ).
Previously listed as 8th Aug in their website , now amended to 7th .
Previously listed as 8th Aug in their website , now amended to 7th .
FATABA ( Date: 29-Jul-2024 15:34) Posted:
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Not sure it is accurate ....but all 3 banks result are
UOC 1st Aug
OCBC 2nd Aug
DBS 8th Aug
Dyodd
Happy investing.
UOC 1st Aug
OCBC 2nd Aug
DBS 8th Aug
Dyodd
Happy investing.
Among the 3 banks , DBS is still standing out .....with most fund input recently .
Also ( EVEN @0.54x4 =$2.16 and using a price of $37.50 ...DBS dividend is a cool 5.76%
But we know this is the base for dividend policy .....as 2024 will be better ( CEO did mentioned this )
So the question will be DBS justify a high PB ratio ......maybe the 1H result will show more on their AUM and other incomes . ( interest cut is factor in already )
$10B profit is given .....a matter of how much more now
Oh and 8th Aug result seem to be a good day ....before the National day long weekend .
Happy investing.
Also ( EVEN @0.54x4 =$2.16 and using a price of $37.50 ...DBS dividend is a cool 5.76%
But we know this is the base for dividend policy .....as 2024 will be better ( CEO did mentioned this )
So the question will be DBS justify a high PB ratio ......maybe the 1H result will show more on their AUM and other incomes . ( interest cut is factor in already )
$10B profit is given .....a matter of how much more now
Oh and 8th Aug result seem to be a good day ....before the National day long weekend .
Happy investing.
For the contingent of STI constituents that ranked among the 30 stocks with highest net institutional inflow over the 11 sessions, DBS Group Holdings (DBS) booked the highest net institutional inflow of S$118 million. This reversed the S$28 million of net institutional outflow from the stock in 1H24. Over the past 11 sessions, DBS saw its biggest session by trading turnover on 10 July, following Macquarie Research upgrading its share price target for the stock on July, from S$38.30 to S$41.00 (see warrants.com.sg for key takeaways). DBS reports its 1HFY24 financials on 8 August. Its 1QFY24 saw a new high in quarterly total income at S$5.56 billion, and ROE of 19.4%. Its 1QFY24 commercial book net interest income grew 8% YoY, lifted by a higher net interest margin (NIM) which rose 8bps YoY points to 2.77%, from higher interest rates, while loans grew 1%. Note for 2QFY24, the commercial book NIM had a comparatively higher base in 2QFY23, at 2.81%. DBS&rsquo wealth management income in 1QFY24 increased 47% from S$365 million in 1QFY23 to S$536 million in 1QFY24, with the Citi Taiwan acquisition accounting for 12 percentage points of the growth. By comparison, wealth management income amounted to S$377 million in 2QFY23.
Been owning bank stocks for 15 years and the last rally I remenbered was 2017 when it was up some 50% for the year before it all came crashing down when Trump announced tariffs in May 2018 .
This year it is up some 20% since Jan and about 6% to 7% in the past 2 weeks alone . Everyone is stting on paper profits so current corrections are to be expected . I think this correction is a healthy one and all 3 banks still have some legs in them to go higher before the results and XD .
Sept and October are traditionally the low months for the STI and I would think that if the STI can hold 3400 in these 2 months we may see something special in 2025 .
Barring any unforseen circumstances .
Pls DYODD .
This year it is up some 20% since Jan and about 6% to 7% in the past 2 weeks alone . Everyone is stting on paper profits so current corrections are to be expected . I think this correction is a healthy one and all 3 banks still have some legs in them to go higher before the results and XD .
Sept and October are traditionally the low months for the STI and I would think that if the STI can hold 3400 in these 2 months we may see something special in 2025 .
Barring any unforseen circumstances .
Pls DYODD .
FATABA ( Date: 16-Jul-2024 09:50) Posted:
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Since my posting on 11 Jul ......STI has crossed 3500 and mostly supported by the banks movement.
Today is correction time ....bring STI back down below the 3500 level . Fundamentally nothing has changed ...TILL the next result in early Aug .
OCBC see the biggest % correction after the closing of GE takeover ....
ALL eyes are indeed on the !H result . It is a matter of meeting expectations or what ?
DYODD
Happy investing .
Today is correction time ....bring STI back down below the 3500 level . Fundamentally nothing has changed ...TILL the next result in early Aug .
OCBC see the biggest % correction after the closing of GE takeover ....
ALL eyes are indeed on the !H result . It is a matter of meeting expectations or what ?
DYODD
Happy investing .
FATABA ( Date: 11-Jul-2024 14:14) Posted:
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Aiyo, since when GLC, local and foreign institution is in it? all the time they are in.... Anyway, DBS issued bonus issue, the actual price should be 39.93 x 1.1 = SGD 41.723.....
aragosta ( Date: 11-Jul-2024 16:50) Posted:
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