OCBC group chief executive Helen Wong is confident that the lender can deliver its 2024 targets, amid strong performance and an all-time high income in the first quarter of the year.
Speaking at a briefing for OCBC’s first quarter results on Friday (May 10), Wong expects the lender’s return on equity (ROE) for 2024 will be at the higher end of its 13 to 14 per cent target, based on its current business trajectory.
In addition, OCBC’s move to wholly acquire Great Eastern Holdings (GEH) should also add to ROE, she said. On Friday, OCBC made an offer – at S$25.60 per share – to acquire the 11.56 per cent stake in the insurer it does not currently own, with the aim to delist GEH.
