Summary

OCBC’s new CEO, Tan Teck Long, stated the bank’s preference for special dividends over share buybacks to reward long-term shareholders. While reaffirming the S$2.5 billion capital return plan, Tan emphasized the need for capital to support growth, particularly in Asean markets, and target a CET1 ratio of 14%. The bank has S$780 million remaining under its capital return commitment.

https://www.businesstimes.com.sg/companies-markets/ocbc-favours-special-dividends-over-buybacks-excess-capital-says-new-ceo