0339 GMT - Oversea-Chinese Banking Corp.'s net interest margin likely slipped 3 bps on quarter to around 2.15% in the last quarter of 2024, CGS International analysts write in a note. The Singapore-listed bank's asset yields could have been weighed by the Fed's interest rate cut in September, they say. OCBC has reiterated that its 2024 NIM should still trend at 2.2%, they note. Loan growth is expected to stay muted as customers adopt a wait-and-see approach to investment decisions, they say. CGS International has an add rating on OCBC and target price of S$17.70. Shares are 0.3% lower at S$16.87.(amanda.lee@wsj.com)
(END) Dow Jones Newswires
January 14, 2025 22:39 ET (03:39 GMT)
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