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39 stories mentioning SGX:O39Updated 9h ago

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Asia

OCBC Rolls Out AI Platform to Cut Onboarding Time for Wealthy Clients

Oversea-Chinese Banking (SGX:O39) has rolled out an agentic AI platform named HELIOS aimed at cutting the time for opening new accounts for wealthy clients down to 15 business days from an industry average of six weeks, according to a press statement on Wednesday.HELIOS deploys extensive intelligence-gathering and relationship-network mapping capabilities to increase the accuracy and completeness of customer information needed for onboarding, the release said.By automating the collection, verification, and assessment of key data, a large part of the know-your-customer (KYC) due diligence process is completed much faster, which streamlines and speeds up onboarding, according to the release.Bank of Singapore, the private banking unit of OCBC, has begun using HELIOS throughout Singapore, Hong Kong and Dubai, with the roll-out to be completed by the third quarter of 2026. It will be extended to the OCBC Premier Private Client customer segment in the consumer banking business by the end of the year.The launch comes close on the heels of the Monetary Authority of Singapore saying it is working with the private banking industry to reduce the account opening timeline to within one month by the end of 2026.

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Asia

Market Chatter: Bank of Singapore to Launch Agentic AI Platform

Oversea-Chinese Banking's (SGX:O39) private banking unit, Bank of Singapore, is deploying an agentic artificial intelligence platform called HELIOS that aims to cut new account opening times for wealth management clients to 15 business days from more than 30, Reuters reported, citing Bank of Singapore Chief Executive Jason Moo and OCBC Head of Group Legal and Compliance Loretta Yuen.The platform automates due diligence by gathering client information and credit risk profiles for relationship managers. More than 100 relationship managers have been using HELIOS across Singapore, Hong Kong and Dubai over the past five months, the news agency said.Moo said about 50 clients have been onboarded through the platform, with the rollout expected to be completed across Bank of Singapore by the third quarter before expanding to OCBC's Premier Private Client segment by year-end, Reuters said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

SGX:O39
Asia

MAS, Singapore Banks Launch AI Cyber Taskforce

The Monetary Authority of Singapore and the Association of Banks in Singapore (ABS) have established a task force to combat emerging threats from frontier AI models, according to a statement on Tuesday.The AI-Driven Cyber and Technology Risk Taskforce (ACT) brings together leaders from MAS, ABS, major banks DBS Group (SGX:D05), OCBC (SGX:O39), and UOB (SGX:U11).Other members include the Singapore Exchange (SGX:S68), Network for Electronic Transfers or NETS, and Banking Computer Services or BCS.The task force will facilitate industry-wide sharing of AI cybersecurity use cases, conduct proof-of-concept trials for advanced AI-enabled defense tools, and develop guidance to help financial institutions better detect and prevent AI threats.

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Asia

Alipay+ Adds Hang Seng Bank as First Hong Kong Banking Partner

Ant International's unified wallet gateway, Alipay+, is adding more bank partners to its network of over 50 digitla wallets and financial institutions, with Hang Seng Bank (HKG:0011) the latest banking partner, according to a company release on Friday.Users of Hang Seng Mobile App can now make QR code payments in the Chinese mainland and beyond at more than 100 million merchants across 55 countries.Alipay+ is accepted in over 220 markets and has partners including Singapore's Oversea-Chinese Banking Corp. or OCBC (SGX:O39), Public Bank in Malaysia, Bank of the Philippine Islands and Asia United Bank.

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Research

CGS International Downgrades Oversea-Chinese Banking to Hold from Add; Price Target is SG$28.40

Oversea-Chinese Banking (SGX:O39) has an average rating of overweight and mean price target of SG$27.51, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

SGX:O39
Asia

OCBC Files for Singapore Listing of GBP50 Million Bonds

Oversea-Chinese Banking Corp. or OCBC (SGX:O39) filed for the listing of 50 million pounds sterling worth of bonds on the Singapore bourse, according to a filing with the Singapore Exchange on Tuesday.The bank filed for 15 million pounds worth of cancelable fixed-rate bonds due 2036, 20 million pounds worth of cancelable fixed-rate bonds due 2036 and 15 million pounds worth of cancelable fixed-rate bonds due 2036.The bonds will be listed and quoted on the Bonds Market on July 22, the bank said.

SGX:O39
Research

Phillip Securities Upgrades Oversea-Chinese Banking to Accumulate From Neutral; Price Target is SG$28.50

Oversea-Chinese Banking (SGX:O39) has an average rating of overweight and mean price target of SG$26.59, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

SGX:O39
Asia

ValueMax Issues SG$80 Million Worth of Bonds; Shares Down 3%

ValueMax (SGX:T6I) issued SG$80 million worth of 4% bonds due 2029, according to a Friday filing with the Singapore Exchange.Shares of the pawnbroker were down over 3% in Monday trading.DBS Bank was appointed as the sole global coordinator and rating advisor for the bonds.Meanwhile, DBS Bank and Oversea-Chinese Banking Corp. or OCBC (SGX:O39) were appointed as joint lead managers and bookrunners.The bonds were listed on Monday, the filing added.

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Asia

Singapore's Straits Times Index Extends Rally Above 5,400 Points on Bank Stock Gains

Singapore's Straits Times Index rallied above 5,400 points at market open on Thursday, owing to strong gains by local bank stocks ahead of the second-quarter corporate earnings season in early August.The STI, a key benchmark for the Singapore Exchange, rose in early trade by 0.7%, or 36.45 points, to open at 5,406.020.Strong institutional inflows pushed Singapore bank stocks to record highs on Thursday, with DBS Group (SGX:D05) briefly crossing SG$70 for the first time. Oversea-Chinese Banking Corporation (SGX:O39) and United Overseas Bank (SGX:U11) also hit new peaks, pushing the STI as investors positioned ahead of the earnings season and sought to secure first-half dividend payouts.

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Asia

GuocoLand Secures SG$634.7 Million Funding to Develop Lentor Central Site in Singapore

GuocoLand (SGX:F17) has secured a SG$634.7 million green club facility from Oversea-Chinese Banking Corporation (SGX:O39) and Industrial and Commercial Bank of China's ( HKG:1398, SHA:601398) Singapore branch, according to a Thursday filing to the Singapore bourse.The financing is aligned with GuocoLand's Green Finance Framework and will fund the future residential development at its Lentor Central site, which was awarded in March.The Lentor Central project is expected to be launched in the first half of 2027.

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Asia

Update: Market Chatter: OCBC to Hire 600 Additional Relationship Managers Over Next Three Years

(Updates story to reflect OCBC confirmation)Singapore-based Oversea-Chinese Banking Corporation (SGX:O39) plans to increase its relationship manager headcount by 600 over the next three years, a company spokesperson confirmed toon Wednesday.The lender also intends to invest over SG$1 billion annually over the next few years on artificial intelligence, digital services, and data, Reuters reported.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

SGX:O39
Asia

Market Chatter: OCBC to Hire 600 Additional Relationship Managers Over Next Three Years

Singapore-based Oversea-Chinese Banking Corporation (SGX:O39) plans to increase its relationship manager headcount by 600 over the next three years, Reuters reported Wednesday, citing bank executives.The lender also intends to invest over SG$1 billion annually over the next few years on artificial intelligence, digital services, and data, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

SGX:O39
Asia

Singapore Shares Open Flat Amid Mixed Broader Asian Markets

Singapore shares opened flat with positive bias on Wednesday, tracking mixed sentiment across major Asian markets after a massive technology-stock-led sell-off in the previous session as investors took an optimistic yet cautious approach amid concerns over AI spending and semiconductor firms' valuations.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, rose 0.08%, or 4.19 points, to open at 5,209.930.Market-moving bank stocks were mixed in early morning trade, with DBS Group Holdings (SGX:D05) and United Overseas Bank (SGX:U11) gaining marginally, while shares of Oversea-Chinese Banking Corporation (SGX:O39) slightly declined.In other news, US President Donald Trump said Tuesday that Iran had agreed to permit nuclear inspections, although Tehran said it has no plans to allow the International Atomic Energy Agency (IAEA) inspectors set foot in its bombed enrichment sites.Iran's chief negotiator, Mohammad Bagher Ghalibaf, said the Strait of Hormuz would "never return to its pre-war conditions" and that Tehran would maintain control over the key waterway.

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Asia

Market Chatter: OCBC to Expand Wealth Operations in Indonesia with Hiring Drive after HSBC Assets Acquisition

Singapore-based Oversea-Chinese Banking Corporation (SGX:O39) plans to double its wealth advisers in Indonesia, Bloomberg News reported Tuesday, citing OCBC Indonesia head Parwati Surjaudaja.The lender also aims to increase its relationship manager headcount to 400 by the end of 2026 through hiring and internal transfers, as client assets in Indonesia have rose 11% to 127 trillion rupiah, Surjaudaja told the news agency.The hiring is part of OCBC's expansion plan following its May agreement to acquire HSBC's (HKG:0005) retail and wealth management business in Indonesia.OCBC's shares were up nearly 1% in recent trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: Singapore to Launch Gold Clearing System by Year-End

Singapore has outlined plans to launch a gold clearing system by the end of the year, in partnership with JPMorgan Chase, Deutsche Bank, DBS (SGX:D05), Oversea-Chinese Banking Corp. or OCBC (SGX:O39), UOB (SGX:U11)and ICBC Standard Bank, according to a report by Bloomberg on Monday.Speaking at a conference, the city-state's Deputy Prime Minister and MAS chairman, Gan Kim Yong said the system will connect regional gold demand with global liquidity and support market activity during trading hours.Bloomberg also reported that MAS plans to introduce central bank gold vaulting services by October.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Singapore Exchange to Launch OTC Gold-Clearing System in 2026

The Singapore Exchange plans to establish an over-the-counter (OTC) gold clearing system for Loco Singapore this year, the Monetary Authority of Singapore said Monday.Major banks such as JPMorgan Chase & Co., DBS Group Holdings (SGX:D05), Oversea-Chinese Banking Corporation (SGX:O39), United Overseas Bank (SGX:U11), ICBC Standard Bank, and Deutsche Bank AG will act as clearing members, with plans for inter-bank trading expected to be operational from 2027, the release said.These banks will work with the Singapore Exchange to enhance the Loco Singapore gold market, improve price discovery, and build trading activities, it said.The Monetary Authority of Singapore will introduce central bank gold vaulting services by October.Shares of Oversea-Chinese Banking Corporation added over 1%, while those of United Overseas Bank increased about 1% at market close.

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Research

CGS International Upgrades Oversea-Chinese Banking to Add from Hold; Price Target is SG$26

Oversea-Chinese Banking (SGX:O39) has an average rating of overweight and mean price target of SG$23.48, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

SGX:O39
Asia

Keppel Prices SG$325 Million Subordinated Perpetual Securities

Keppel (SGX:BN4) has priced SG$325 million of fixed-rate subordinated perpetual securities at 3.30% under its $5 billion multi-currency debt issuance program, according to a Thursday filing to the Singapore bourse.The global asset manager and operator has appointed DBS Bank, Oversea-Chinese Banking Corporation (SGX:O39), and United Overseas Bank (SGX:U11) as joint bookrunners and lead managers for the issue.Keppel plans to use the proceeds from the issue to fund general corporate needs and refinance existing perpetual debt.The Series 018 Securities will be issued in the denomination of SG$250,000 and will be perpetual, with no fixed redemption date. They are expected to be issued on or around June 11.The company will have the option to redeem the Series 018 Securities in whole, but not in part, at 100% of their principal amount, together with the distribution accrued on June 11, 2029.Keppel plans to list the new Series 018 securities on the Singapore exchange for qualified institutional and accredited investors.

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Asia

Singapore's Proposed TLAC Framework May Impact Banks' Support Ratings, Fitch Says

The Singaporean central bank's proposal for a total loss-absorbing capacity (TLAC) framework could impact banks' support ratings, Fitch Ratings said in a Thursday release.The "aa-" government support rating for the country's three major local banks are in line with their viability ratings, serving as a backstop to their AA- issuer default ratings, Fitch said.The rating agency may not consider government support for markets with credible banks resolution and expectations of senior debt being bailed in.With this, the equilibrium between DBS Group Holdings (SGX:D05) and DBS Bank's ratings may shift if Fitch removes government support as a factor.The Monetary Authority of Singapore's propose external TLAC of 14% of risk-weighted assets of local domestic systemically banks is below the 18% minimum for global ones, Fitch said.The central bank also does not push for a TLAC leverage ratio requirement given the smaller size of varied risk profiles of the domestic banks.The proposal will also not force United Overseas Bank (SGX:U11) and Oversea-Chinese Banking (SGX:O39) to issue any additional debt, reflecting the wider flexibility in the proposed ways for banks to meet the TLAC requirement, Fitch said.

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Asia

OCBC Files for Singapore Listing of $35 Million Worth of Bonds

Oversea-Chinese Banking Corp. or OCBC (SGX:O39) filed for the listing of $35 million worth of cancelable zero coupon bonds due 2046 on the Singapore bourse, according to a filing with the Singapore Exchange on Tuesday.The bonds will be listed and quoted in the Bonds Market on June 4, the bank added.

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