OCBC Bank stock price crashed to six year low
One of the largest local banks in Singapore, OCBC stock price closed at $7.77, a six-year low. The last time OCBC shares traded below $5.00 was during the Great Financial Recession, recording a low of $4.14 on 6 March 2009.
OCBC will be releasing its full year financial results on 17 February 2016. However, based on its 3Q results in October last year, the Net Asset Value for each OCBC stock price was $7.78, slightly above today’s closing price. It is still premature to assess whether OCBC stock price is undervalued because the latest data has not been released. But given the current weak market sentiments, OCBC stock price is expected to slide further.
The non-performing assets (NPAs) were S$1.93 billion as at 30 September 2015, up 41% from S$1.37 billion a year ago. The year-on-year increase in NPAs was largely attributed to [This is a premium article. The rest of the content is blocked and can be accessible by SG Wealth Builder Members only. To read the full content, please sign up as member.]
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