Decoding OCBC's FY2025 Earnings Call
This was written with reference to the OCBC FY2025 Earnings Call Transcript found at https://finance.yahoo.com/quote/O39.SI/earnings/O39.SI-Q4-2025-earnings_call-413102.html Just like DBS, OCBC faced the same macroeconomic "perfect storm" of falling rates and the new 15% global minimum tax, which caused its final net profit to dip 2% to SGD 7.42 billion . However, the underlying engine is roaring—Profit Before Tax (PBT) actually rose 2% to cross the SGD 9 billion mark for the first time in the bank's history . OCBC posted a meteoric rise of 16% in Non-Interest Income for FY2025. If you want to understand OCBC's 2025 performance and 2026 trajectory, you have to look past the Net Interest Margin (NIM) noise and focus on what management calls the "WOW" strategy. Whole-Of-Wealth WOW Factor OCBC possesses a structural advantage that its peers do not: It owns a premier retail bank, a dedicated private bank (Bank of Singapore), and a massive insurance arm (Great E...