P/B-RoE methodology
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OCBC (OCBC.SI): GEH 2Q26 Strength Driven by MTM; SG10yr Yield Rising Back Up in3Q26E-20260731
花旗· 2026-07-31 10:18
CITI'S TAKE Great Eastern Holdings (GEH) reported 2Q26 profit of S$503m (vs 1Q26 S$346m) driven by insurance profit of S$286m (vs S$329m QoQ) and shareholder profit S$217m (vs S$17m QoQ). The sequential profit increase was driven by normalisation of insurance income with 1Q seasonally stronger due to adjustments, but normalisation of trading income, likely as SG10yr bond yield normalised lower QoQ, helped unwind some of the 1Q26 profit impact. However, this could be volatile, especially with SG10yr bond yie ...