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OCBC has enough capital for M&A, business growth: CEO
The Straits Times
|November 14, 2024
OCBC has enough capital for business growth, even as chief executive officer Helen Wong signals her appetite for deals while keeping the bank's dividend policy.
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"We are well capitalised," Ms Wong said on Nov 13 in an interview on Bloomberg Television. "We have prepared for both organic growth and certain inorganic growth opportunity."
OCBC has funds available for merger and acquisition opportunities as well as investing in its businesses from its wealth platform to artificial intelligence, said Ms Wong. The lender is also on track to maintain its 50 per cent dividend payout ratio, she added.
She said the bank will consider paying more to its shareholders if the bank's capital remains high after funding growth plans.
Ms Wong's acquisition strategy underscores how much the business serving the rich supports the bank's profitability. OCBC's wealth revenue includes income from its private bank - Bank of Singapore - as well as lower-rung consumer, insurance and brokerage units.
Dit verhaal komt uit de November 14, 2024-editie van The Straits Times.
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