South Africa's FNB Eyes Guernsey Expansion for Wealthy Clients
First National Bank, which has had a branch license for a decade, will apply for a credit permit by the end of the year, it said in a statement Monday.
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3 hours ago
- Yahoo
Oversea-Chinese Banking Corporation Limited Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next
Oversea-Chinese Banking Corporation Limited (SGX:O39) shareholders are probably feeling a little disappointed, since its shares fell 2.3% to S$16.79 in the week after its latest second-quarter results. Revenues were S$3.5b, approximately in line with whatthe analysts expected, although statutory earnings per share (EPS) crushed expectations, coming in at S$1.60, an impressive 298% ahead of estimates. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. Following the latest results, Oversea-Chinese Banking's 17 analysts are now forecasting revenues of S$14.3b in 2025. This would be a reasonable 4.1% improvement in revenue compared to the last 12 months. Statutory earnings per share are expected to dip 2.5% to S$1.58 in the same period. In the lead-up to this report, the analysts had been modelling revenues of S$14.4b and earnings per share (EPS) of S$1.61 in 2025. So it's pretty clear that, although the analysts have updated their estimates, there's been no major change in expectations for the business following the latest results. Check out our latest analysis for Oversea-Chinese Banking It will come as no surprise then, to learn that the consensus price target is largely unchanged at S$17.61. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. There are some variant perceptions on Oversea-Chinese Banking, with the most bullish analyst valuing it at S$20.00 and the most bearish at S$14.40 per share. As you can see, analysts are not all in agreement on the stock's future, but the range of estimates is still reasonably narrow, which could suggest that the outcome is not totally unpredictable. These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Oversea-Chinese Banking's past performance and to peers in the same industry. It's pretty clear that there is an expectation that Oversea-Chinese Banking's revenue growth will slow down substantially, with revenues to the end of 2025 expected to display 8.3% growth on an annualised basis. This is compared to a historical growth rate of 11% over the past five years. Compare this to the 497 other companies in this industry with analyst coverage, which are forecast to grow their revenue at 7.2% per year. Factoring in the forecast slowdown in growth, it looks like Oversea-Chinese Banking is forecast to grow at about the same rate as the wider industry. The Bottom Line The most obvious conclusion is that there's been no major change in the business' prospects in recent times, with the analysts holding their earnings forecasts steady, in line with previous estimates. They also reconfirmed their revenue estimates, with the company predicted to grow at about the same rate as the wider industry. The consensus price target held steady at S$17.61, with the latest estimates not enough to have an impact on their price targets. With that in mind, we wouldn't be too quick to come to a conclusion on Oversea-Chinese Banking. Long-term earnings power is much more important than next year's profits. We have estimates - from multiple Oversea-Chinese Banking analysts - going out to 2027, and you can see them free on our platform here. We don't want to rain on the parade too much, but we did also find 1 warning sign for Oversea-Chinese Banking that you need to be mindful of. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
7 hours ago
- Yahoo
‘Chokepoint 3.0' Has Arrived? a16z Warns of Anti-Crypto Bank Tactics
Big banks are making it harder and more expensive for consumers to use fintech and crypto apps, which amounts to what could be seen as "Operation Chokepoint 3.0." That's according to Alex Rampell, General Partner at venture capital firm Andreessen Horowitz (a16z). In its latest fintech newsletter, Rampell pointed to traditional financial institutions charging high fees to access account data or move money, particularly to services like Coinbase or Robinhood, as a move to strangle the competition. "Under the Biden administration, Operation Chokepoint 2.0 tried to debank and deplatform crypto," Rampell said. "That era has ended, but now the banks are aiming to implement their own Chokepoint 3.0 — charging insanely high fees to access data or move money to crypto and fintech apps — and, more concerningly, blocking crypto and fintech apps they don't like," he added. Chokepoint 2.0 refers specifically to the debanking of crypto businesses and executives as a result of pressure exerted during President Joe Biden's administration by regulatory authorities like the Federal Deposit Insurance Corp (FDIC). After Donald Trump was elected U.S. president, the Chokepoint 2.0 ended as regulators reversed many of the directives put in place during the previous administration. JPMorgan accusation JPMorgan Chase, one of the largest U.S. banks, was singled out as an example. Under current U.S. law, specifically Section 1033 of the Dodd-Frank Act, consumers have a right to access their own financial data. But banks are now asserting control over how that data is delivered electronically, sometimes charging fees for access to information as basic as routing and account numbers. A16z's executive argued that such tactics could make transferring funds to alternative platforms more costly, deterring users and reducing competition. 'If it suddenly costs $10 to move $100 into a crypto account,' Rampell wrote, 'maybe fewer people will do it. And if JPM and others can block consumers from connecting their own freely chosen crypto and fintech apps to their bank accounts, they effectively eliminate competition.' Rampell's words echo those of Gemini co-founder Tyler Winklevoss, who said JPMorgan charging fintech platforms for access to customer banking data will 'bankrupt' them. 'This is the kind of egregious regulatory capture that kills innovation, hurts the American consumer, and is bad for America.'JPMorgan hasn't address the platform directly, but did address the criticism. The bank told Forbes that nearly 2 billion monthly requests for user data come from third parties, and that by charging fees it aims to curb misuse. Rampell, meanwhile, is calling on the Trump administration to stop such practices by the banks before they become standard among the rest of the financial institutions. "In a perfect world, consumers would vote with their wallets. But every bank will likely do this, and getting a new banking charter takes years. Many banks have hostages, not customers," Rampell said. "We don't need a new law; we just need the administration to prevent this callous and manipulative attempt to kill competition and consumer choice," he added. Sign in to access your portfolio
Yahoo
11 hours ago
- Yahoo
Wall Street internship season is ending. What to do if you don't get a return offer.
The summer is nearly over, and full-time job offers could start rolling out as soon as next week. Not every intern will get picked. What do you do if you don't get invited back? A banking recruiter and a top 10 business school professor on how to recover and stay in the game. Summer internships on Wall Street are coming to a close, which means college students who toiled late at the desk for weeks trying to impress the boss will soon know whether it worked. The number of investment banking interns who are invited to return after graduation to work full-time varies by year, by bank, and by group. This summer, many factors stand to shake up the return-offer rate: M&A has come soaring back after a slow start to 2025. At the same time, more banks are rolling out artificial intelligence tools that stand to impact junior banker jobs. "At this point it's too early to tell," said Steve Sibley, a business school professor whose undergrads intern on Wall Street each year. "I haven't heard from a lot of students, which is usually a sign they're not worried." With return offers right around the corner (summer analysts from two different banks told Business Insider that they expect to get the news as soon as next week), we decided to find out how to proceed if you don't get invited back. We asked Sibley, who has taught hundreds of students who have successfully broken into Wall Street over his 10 years of teaching at Indiana University's Kelley School of Business, along with Wall Street banking recruiter Meredith Dennes. They said that while a return offer is the surest path to a career in finance, not getting one doesn't necessarily mean your Wall Street dreams are over. You just have to act quickly and decisively. Here is their advice: Be honest with yourself The first step is to think about your strengths and weaknesses, and what others might have done to get an offer that you didn't. "Before making your next move, you need diagnostic clarity," said Dennes, founder of recruitment firm Prospect Rock Partners. "Your comeback strategy depends entirely on accurate self-assessment." Sibley said there tend to be three main reasons someone didn't get an offer: Your work product was off. "A lot of times interns will overextend themselves and try to be everything to everybody," he said, adding: "If someone asks you to do something and you don't have bandwidth but you say yes and your work is late as a result, that's problematic." The bank didn't see you as a cultural fit. If your bank has a "work hard, play hard" vibe and you prefer to spend what little free time you have relaxing in front of the TV, not getting the return offer at that firm is probably for the better, said Sibley. The bank may need fewer analysts than expected. Banks tend to hire interns two years in advance, which can lead to overhiring. Different divisions have different activity levels in any given year. M&A activity in your coverage group or at the bank generally may be lower than anticipated. Not getting a return offer can be a blessing in disguise, said Sibley. "It may feel like a rejection, but maybe it's an indication that investment banking isn't for you, so be open with yourself about that." Start networking, fast If you still want to pursue investment banking, you have options. The first is to find a spot at another firm as quickly as possible. Interns usually have about two weeks to accept or decline their offers, opening the door to job opportunities at firms that underhired or got more declines than planned. But you have to act fast. "Any additional seats come available very quickly and get filled quickly," said Sibley. To do that means reconnecting with the contacts you made when you were recruiting for your internship. "These relationships, properly maintained, often become your strongest advocates for future opportunities," Dennes said. This is key because when only one or two spots open, the bank will often try to fill them without an official job posting. The only way to know is through connections. Don't be picky, Sibley said — casting too narrow a net might leave you with nothing. "You probably aren't moving up the league table for your full time position," he said, adding: "So look down, maybe middle market, maybe it's less elite boutique banks — anything where you're learning skills for the job." Take responsibility When networking and talking with other potential employers, you will have to address why it didn't work out at the other firm. Dennes and Sibley said to own it — blaming anything other than yourself is a big red flag to other potential employers. "When addressing the no-offer in future interviews, lead with accountability and growth," said Dennes. "Show them you extracted value from the experience and applied those lessons systematically." Maybe you said yes to everybody, and your work suffered. Here's how Sibley suggested you might explain what happened and what you learned from it: I tried to accept every work stream that was sent my way, and as an intern, didn't have the courage to say I had enough on my plate and couldn't take on anything else. I learned there are things that are important and things that are urgent. I learned the importance of prioritizing certain things over others, and pushing back if my plate is overflowing. Pursue deal-adjacent jobs If you want to do M&A but don't get an investment banking job, there are adjacent careers where you can gain similar skills and make the move to banking down the line. You just want "anything where you are touching deals or deal advisory," said Sibley. Consider roles in corporate development at Fortune 500 companies, which will offer deals and modeling experience. Large consulting firms like Deloitte and KPMG also tend to have corporate finance teams that operate as investment banking arms of their firm. There are also business management consulting firms that specialize in things like restructuring and turnarounds. You should also consider valuation advisory teams or businesses. Some banks, for example, have valuation advisory practices that are separate from their investment bank but that work with the investment banking coverage groups. Consider a master's degree You could also buy yourself another year of recruiting by enrolling in a master's finance program (different from an MBA, which you could still do later). "It's a way to extend the runway," said Sibley, who is associate chair of IU's master of science in finance program. He said he has had students go this route at IU and land a job before. There are a lot of these one-year specialized programs at various universities today. Going to a different school than where you did undergrad is probably better, he said, so you can take advantage of a second alumni network. "It's easier to find a job from school than from your parents' basement," said Sibley. Read the original article on Business Insider
