发表于 2-5-2013 02:35 AM
OCBC reports 16% lower 1Q earnings of $696mil|
Tue, 30 Apr 15:18
Oversea-Chinese Banking Corporation reported earnings of $696 million for the first quarter of 2013 (1Q13), 16% lower than $832 million a year ago (1Q12), and 5% higher than $663 million the previous quarter (4Q12).
Year-on-year, core earnings, excluding gains from the divestment of non-core assets, was 12% lower as compared to $790 million in 1Q12, which included significantly higher trading income and mark-to-market investment gains from the insurance business.
Net interest income of $912 million declined 4% from $951 million a year ago, as revenue from asset growth was offset by the impact of lower net interest margin. Non-bank customer loans grew 10% from a year ago, with broad-based growth across consumer, corporate and SME segments in most key markets. Net interest margin fell 22 basis points from 1.86% to 1.64%, attributed to the persistently low interest rate environment, much reduced gapping opportunities in the interbank market, and re-pricing of existing housing loans in Singapore in response to market competition.
The ratio of current and savings deposits to total non-bank deposits increased for the fourth successive quarter, rising to 51.1% from 45.6% a year ago. Fee and commission income rose 15% to $316 million, from $274 million a year ago, boosted by growth in wealth management, loan-related and fund management income. Trading income was lower as compared to the strong 1Q12 performance, declining 65% to $56 million. Great Eastern Holdings’ (GEH) continued to record sound business growth, as reflected by a 17% rise in new business sales, driven by growth across its key markets, as well as from higher underwriting profits.
Life assurance profit, however, declined 19% to $178 million, from $221 million a year ago, as mark-to-market investment gains in GEH’s non-participating fund were lower as compared to 1Q12. As a result, core non-interest income, excluding divestment gains in 1Q12, was 14% lower at $676 million as compared to $790 million the previous year.
Compared with the previous quarter’s net profit of $663 million, net profit for 1Q13 rose 5%. Net interest income was relatively unchanged quarter-on-quarter. Non-interest income fell 11%, primarily from lower trading income and profit contribution from life assurance, moderated by higher fee and investment income. Operating expenses declined 7%, contributed by lower staff costs, property-related and other expenses, while allowances for loans and other assets were 70% lower.
Annualised return on equity, based on core earnings, was 11.7%, compared to 14.7% in 1Q12 and 11.2% the previous quarter. Annualised core earnings per share was 79.1 cents, lower than 89.8 cents a year ago, but higher than 73.1 cents in 4Q12.
The group’s 1Q13 revenue from overall wealth management activities (comprising insurance, private banking, asset management, stockbroking and sales of other wealth management products), was stable year-on-year at $520 million. As a share of total revenue, wealth management contributed 33%. OCBC’s private banking business continued to expand, with assets under management increasing 27% to US$44 billion ($55 billion) as at 31 March 2013, up from US$35 billion ($44 billion) the previous year.
在今天发布于新交所的文告中，华侨银行(Oversea-Chinese Banking Corporation)报其截至3月31日的首季盈利从8亿3,200万元下滑至6亿9,600万元，年比跌幅为16.3%。尽管盈利下跌，但这个数字比6亿4,100万元的平均预测高。净息差下降持续使公司的业绩受拖累。由于利率偏低及现有房屋贷款“重新定价”，净息差季比下跌6个基点，年比下降22个基点至1.64%，令净利息收入下滑4.1%至9亿1,200万元。然而，净收费与佣金收入从1Q12的2亿7,400万元上升15.3%至3亿1,600万元，原因是财富管理、贷款与基金管理收入均增长。公司的贷款总额年比提高10.3%至1,485亿元。
启示：公司是东南亚的第二大银行，其资产质素及偿债能力依然强稳。截至1Q13，不良贷款为0.7%，低于4Q12的0.8%及1Q12的1%。 本帖最后由 icy97 于 2-5-2013 02:43 AM 编辑