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OCBC rode on the strength of macroeconomic tailwinds to register healthy growth for the full year ended December, as net profit hit a record high.

But its management is staying cautious about the year ahead.

Notably, OCBC is maintaining a conservative view of three rate cuts for 2025 – compared with its peers’ expectations of one or two cuts for the year – noting that the volatile environment and heightened trade tensions could impede global growth even as Asean economies remain resilient.

For the financial year 2025, the lender is targeting a net interest margin (NIM) of around 2 per cent and mid-single-digit loan growth.

It also expects a cost-to-income ratio in the low 40 per cent range and credit costs of around 20 to 25 basis points.