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Singapore's second-largest bank, offering retail banking, wealth management (Bank of Singapore), and insurance (Great Eastern) across Southeast Asia.
Singapore's second-largest bank, offering retail banking, wealth management (Bank of Singapore), and insurance (Great Eastern) across Southeast Asia.
Earns mostly from the lending spread, with insurance premiums and investment income from Great Eastern, its majority-owned insurer, and fees from Bank of Singapore's wealthy clients. It bought Hong Kong's Wing Hang Bank in 2014 to widen its Greater China reach.
In one line: A Singaporean regional universal bank/insurer combo.
Moat: narrow (scale, brand, distribution). Bank-insurance-wealth combination gives cross-sell scale across Southeast Asia and Greater China.
Headquarters: Singapore · Founded: 1932 · Employees: 33,323
Size Oversea-Chinese Banking (O39.SI) is a Singapore Financials company (Major Banks) with a market value of $97.6B, the 2nd largest of 186 Singapore companies the cockpit tracks. Shares closed at S$27.73 on 6 Nov 2026.
Performance Over six months the shares gained 23.2%, against +7.0% for the median peer and -1.2% for the Singapore market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue fell 2.9% over the last twelve months (peer median +1.4%); the operating margin is 53.0% (peer median 36.8%).
Valuation It trades at 2.02× book value against a peer median of 1.67× (4th most expensive of 21).
Price implies The share price implies a return on equity of about 14.9%; Oversea-Chinese Banking delivers 13.2%, so the price asks more than the business earns today.
Credit Oversea-Chinese Banking has 5 bonds outstanding ($3.36B), rated BBB+ by the agencies.
Next results Next results expected around 23 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | S$26.2B | S$33.3B | S$33.4B | S$30.3B | S$20.4B |
| Revenue growth | — | 0% | +10% | +48% | — |
| Net income | S$7.92B | S$7.34B | S$7.52B | S$6.96B | S$5.47B |
| Free cash flow | S$207M | S$11.5B | S$5.71B | S$12.7B | S$10.6B |
| Capital expenditure | S$64.8B | S$61.7B | S$46.2B | S$47.1B | S$37.7B |
| Total debt | n/a | S$48.4B | S$45.0B | S$38.9B | S$33.9B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Oversea-Chinese Banking O39.SI | $97.6B | +23% | -3% | 13% | 2.02× | 14.9% |
| DBS D05.SI | $155B | +19% | -5% | 16% | 2.83× | 21.4% |
| United Overseas Bank U11.SI | $47.6B | 0% | -10% | 10% | 1.23× | 9.2% |
| Hsbc 0005.HK | $307B | -3% | -4% | 14% | 1.53× | 9.6% |
| Standard Chartered STAN.L | $60.9B | +14% | -10% | 13% | 1.37× | 16.9% |
| AIA 1299.HK | $104B | -10% | +13% | 20% | 2.53× | 18.4% |
| Prudential 2378.HK | $30.8B | -24% | +30% | 19% | 1.54× | 11.3% |
| UBS UBSG.SW | $148B | +13% | -5% | 11% | 1.62× | 8.4% |
| Julius Baer Gruppe BAER.SW | $17.1B | +2% | 0% | 16% | 1.89× | 8.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | O39.SI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.4% | +2.3% | 4th lowest of 21 |
| 6-month return | +23.2% | +7.0% | highest of 21 |
| Return on equity | 13.2% | 12.2% | 8th highest of 21 |
| Price / book | 2.02× | 1.67× | 4th most expensive of 21 |
| Trailing P/E | 15.9× | 12.0× | 6th most expensive of 20 |
| ROE the price implies | 14.9% | 14.2% | 10th most demanding of 21 |
| ROE delivered | 13.2% | 12.5% | 8th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Oversea-Chinese Banking O39.SI | Singapore | $97.6B | +23% | -3% | 13% | 2.02× | 14.9% | 13.2% |
| U.S. Bancorp USB | United States | $92.6B | +8% | +1% | 13% | 1.55× | 13.9% | 12.8% |
| Bank of Communications 601328.SS | China | $106B | +22% | -5% | 8% | 0.62× | 2.4% | n/a |
| ING Groep INGA.AS | Netherlands | $89.8B | +11% | +7% | 14% | 1.63× | 12.5% | 13.6% |
| PNC Financial Services PNC | United States | $89.4B | +4% | +8% | 13% | 1.59× | 13.2% | 12.9% |
| Westpac Banking WBC.AX | Australia | $87.6B | +4% | +2% | 9% | 1.78× | 16.4% | 9.5% |
| Mizuho Financial 8411.T | Japan | $110B | +7% | +6% | 13% | 1.52× | 11.5% | 12.5% |
| National Australia Bank NAB.AX | Australia | $86.2B | +9% | -8% | 10% | 2.02× | 20.2% | 10.0% |
| Itau Unibanco Holding S.A. Sponsored ADR Pfd ITUB | United States | $84.9B | -12% | +8% | 22% | 1.84× | 11.8% | 21.7% |
| ANZ ANZ.AX | Australia | $84.2B | +17% | -5% | 8% | 1.71× | 14.4% | 8.3% |
| Bank of Nova Scotia BNS.TO | Canada | $114B | +21% | -3% | 12% | 1.99× | 16.3% | 11.6% |
| BNP Paribas BNP.PA | France | $114B | 0% | +8% | 11% | 0.84× | 10.4% | 10.9% |
| Bank of Montreal BMO.TO | Canada | $120B | +16% | -2% | 11% | 2.14× | 16.4% | 10.6% |
| Intesa Sanpaolo ISP.MI | Italy | $120B | +6% | -6% | 16% | 1.81× | 20.7% | 16.4% |
| Capital One COF | United States | $121B | +7% | +26% | 9% | 1.11× | 11.1% | 9.3% |
| HDFC Bank HDFCBANK.NS | India | $129B | -1% | +5% | 14% | 2.00× | 24.8% | 13.9% |
| Lloyds Banking LLOY.L | United Kingdom | $73.7B | +2% | -2% | 14% | 1.37× | 17.2% | 14.3% |
| UniCredit UCG.MI | Italy | $130B | +6% | +2% | 17% | 1.77× | 25.8% | 17.3% |
| China CITIC Bank 0998.HK | Hong Kong | $73.0B | 0% | -1% | 9% | 0.45× | 4.5% | 8.6% |
| Banco Bilbao Vizcaya Argentaria BBVA.MC | Spain | $140B | +20% | +9% | 20% | 2.15× | 24.8% | 19.6% |
| Boc Hong Kong 2388.HK | Hong Kong | $67.4B | +13% | -8% | 12% | 1.47× | 8.1% | 11.8% |
Oversea-Chinese Banking has 5 bonds outstanding with $3.36B face value. The agencies rate it BBB+.