OCBC Has Enough Capital For M&A, Business Growth, CEO Says [Yahoo! Finance Canada]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg “We are well-capitalized,” Wong said Wednesday in an interview with Haslinda Amin on Bloomberg Television. “We have prepared for both organic growth and certain inorganic growth opportunity.” OCBC has funds available for M&A opportunities as well as investing in its businesses from its wealth platform to artificial intelligence, said Wong, who has led the bank since 2021. The lender is also on track to maintain its 50% dividend payout ratio, she added. She said the bank will consider potentially paying more to its shareholders if the bank's capital remains high after funding growth plans. Wong's acquisition strategy underscores how much the business serving the rich supports the bank's profitability. OCBC's wealth revenue includes income from its private bank — Bank of Singapore Ltd. — as well as lower-rung consumer, insurance and brokerage units. OCBC continues to be on the lookout for deals, with Wong highlighting the interest in Indonesia, as wel
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