Annual financial statement
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To Our Shareholders The Board of Directors of Oversea-Chinese Banking Corporation Limited (“OCBC”) reports the following: Financial Results for the Financial Year Ended 31 December 2025 Details of the financial results are in the accompanying Condensed Financial Statements. Final and Special Dividends A final tax-exempt dividend of 42 cents (2024: final dividend of 41 cents) per ordinary share for the financial year 2025 (“FY25”) and a special tax-exempt dividend of 16 cents (2024: special dividend of 16 cents) per ordinary share have been recommended. Including the interim tax-exempt dividend of 41 cents (2024: interim dividend of 44 cents) per ordinary share paid in August 2025, total dividends for FY25 would amount to 99 cents (2024: 101 cents) per ordinary share. The total dividend payout will amount to an estimated S$4.45 billion (2024: S$4.54 billion) or approximately 60% of the Group’s net profit after tax of S$7.42 billion for FY25. Closure of Books The record date is 24 April 2026. Please refer to the announcements on final dividend and special dividend released by the Bank on the SGX website at https://www.sgx.com/securities/company-announcements. Scrip Dividend Scheme The Oversea-Chinese Banking Corporation Limited Scrip Dividend Scheme, which was approved by the Shareholders of the Bank at the Extraordinary General Meeting on 8 June 1996, will not be applicable to the final and special dividends. Peter Yeoh Secretary Singapore, 25 February 2026 More details on the results are available on the Bank’s website at www.ocbc.com
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Oversea-Chinese Banking Corporation Limited and its Subsidiaries Condensed Financial Statements For the Half Year and Full Year ended 31 December 2025 Incorporated in Singapore Company Registration Number: 193200032W
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1 CONTENTS Condensed Financial Statements Consolidated Income Statement 2 Consolidated Statement of Comprehensive Income 3 Balance Sheets 4 Statement of Changes in Equity – Group 5 Statement of Changes in Equity – Bank 7 Consolidated Cash Flow Statement 8 Notes to the Condensed Financial Statements 9 Other Information Required by Listing Rule Appendix 7.2 26 Attachment: Independent Auditor’s Report
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OVERSEA-CHINESE BANKING CORPORATION LIMITED AND ITS SUBSIDIARIES CONSOLIDATED INCOME STATEMENT For the financial year ended 31 December 2025 The accompanying notes form an integral part of these condensed financial statements. 2 GROUP S$ million Note 2H 2025 (1) 2H 2024 (1) 2025 2024 Interest income 9,672 11,214 20,076 22,444 Interest expense (5,150) (6,326) (10,926) (12,689) Net interest income 3 4,522 4,888 9,150 9,755 Insurance service results from life insurance (2) 387 241 927 592 Net investment income from life insurance 4,693 2,802 7,365 6,124 Net insurance financial result from life insurance (4,541) (2,709) (7,237) (5,811) Insurance service results from general insurance (2) # 14 12 Fees and commissions (net) 4 1,285 1,025 2,411 1,970 Net trading income 913 811 1,684 1,537 Other income 5 155 160 300 294 Non-interest income 2,890 2,330 5,464 4,718 Total income 7,412 7,218 14,614 14,473 Staff costs (1,976) (1,986) (3,907) (3,837) Other operating expenses 6 (1,102) (1,037) (1,975) (1,905) Total operating expenses (3,078) (3,023) (5,882) (5,742) Operating profit before allowances and amortisation 4,334 4,195 8,732 8,731 Amortisation of intangible assets (10) (12) (21) (59) Allowances for loans and other assets 7 (339) (377) (665) (690) Operating profit after allowances and amortisation 3,985 3,806 8,046 7,982 Share of results of associates, net of tax 540 496 1,077 994 Profit before income tax 4,525 4,302 9,123 8,976 Income tax expense (734) (574) (1,563) (1,228) Profit for the period/year 3,791 3,728 7,560 7,748 Attributable to: Equity holders of the Bank 3,723 3,661 7,422 7,587 Non-controlling interests 68 67 138 161 3,791 3,728 7,560 7,748 Earnings per share (S$) Basic 0.82 0.81 1.63 1.67 Diluted 0.82 0.80 1.63 1.67 (1) Unaudited and unreviewed. (2) Includes insurance revenue of S$6,466 million and S$3,264 million for 2025 and 2H2025 respectively (2024: S$6,180 million and 2H2024: S$3,252 million) and insurance service expense of S$5,634 million and S$2,943 million for 2025 and 2H2025 respectively (2024: S$5,701 million and 2H2024: S$3,153 million). (3) # represents amounts less than S$0.5 million.
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OVERSEA-CHINESE BANKING CORPORATION LIMITED AND ITS SUBSIDIARIES CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the financial year ended 31 December 2025 The accompanying notes form an integral part of these condensed financial statements. 3 GROUP S$ million 2H 2025 (1) 2H 2024 (1) 2025 2024 Profit for the period/year 3,791 3,728 7,560 7,748 Other comprehensive income: Items that may be reclassified subsequently to income statement: Financial assets, at FVOCI (2) Fair value gains for the period/year 161 379 788 344 Reclassification of gains to income statement – on disposal (33) (8) (71) (12) – on impairment (7) (10) (3) (4) Tax on net movements (16) (34) (95) (21) Cash flow and other hedges (62) 146 (91) 70 Net insurance financial result (66) (123) (193) (77) Currency translation on foreign subsidiaries and overseas branches 59 275 (424) 334 Other comprehensive income/(losses) of associates 153 209 (335) 388 Items that will not be reclassified subsequently to income statement: Currency translation on foreign operations attributable to non-controlling interests (12) 13 (44) (2) Equity instruments, at FVOCI,(2) net change in fair value 119 8 171 172 Defined benefit plans remeasurements 2 (2) 2 # Own credit (1) (1) (#) (1) Total other comprehensive income, net of tax 297 852 (295) 1,191 Total comprehensive income for the period/year, net of tax 4,088 4,580 7,265 8,939 Total comprehensive income attributable to: Equity holders of the Bank 4,025 4,496 7,150 8,763 Non-controlling interests 63 84 115 176 4,088 4,580 7,265 8,939 (1) Unaudited and unreviewed. (2) Fair value through other comprehensive income. (3) # represents amounts less than S$0.5 million.
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OVERSEA-CHINESE BANKING CORPORATION LIMITED AND ITS SUBSIDIARIES BALANCE SHEETS As at 31 December 2025 The accompanying notes form an integral part of these condensed financial statements. 4 GROUP BANK S$ million Note 31 Dec 2025 31 Dec 2024 31 Dec 2025 31 Dec 2024 EQUITY Attributable to equity holders of the Bank Share capital 9 17,887 18,096 17,887 18,096 Other equity instruments 1,698 1,698 1,698 1,698 Capital reserves 765 830 528 534 Fair value reserves 749 313 20 (225) Revenue reserves 40,669 38,379 22,407 21,929 61,768 59,316 42,540 42,032 Other equity instruments issued by subsidiary 676 – – – Non-controlling interests 1,126 1,064 – – Total equity 63,570 60,380 42,540 42,032 LIABILITIES Deposits of non-bank customers 10 428,286 390,687 288,283 253,175 Deposits and balances of banks 10 15,280 11,565 12,526 8,951 Due to subsidiaries – – 42,735 46,602 Due to associates 283 324 209 232 Trading portfolio liabilities 197 281 197 222 Derivative payables 14,078 16,238 12,636 12,855 Other liabilities 12,004 9,370 5,187 3,982 Current tax payables 1,118 879 766 560 Deferred tax liabilities 991 841 165 138 Debt issued 11 30,482 31,553 28,960 30,321 502,719 461,738 391,664 357,038 Insurance contract liabilities and other liabilities for life insurance funds 109,399 102,932 – – Total liabilities 612,118 564,670 391,664 357,038 Total equity and liabilities 675,688 625,050 434,204 399,070 ASSETS Cash and placements with central banks 30,756 34,599 27,095 30,525 Singapore government treasury bills and securities 21,506 14,316 20,451 13,182 Other government treasury bills and securities 44,898 30,369 22,681 11,196 Placements with and loans to banks 37,942 42,407 25,548 32,174 Loans to customers 12 336,692 315,096 245,802 227,598 Debt and equity securities 53,267 43,413 33,093 26,311 Derivative receivables 13,035 17,203 11,640 13,582 Other assets 9,622 7,761 4,379 3,784 Deferred tax assets 489 538 239 175 Associates 8,799 8,153 2,199 2,234 Subsidiaries – – 37,795 35,471 Property, plant and equipment 4,041 3,725 1,360 914 Investment property 672 675 55 57 Goodwill and other intangible assets 4,360 4,504 1,867 1,867 566,079 522,759 434,204 399,070 Investment securities for life insurance funds 100,151 94,452 – – Other assets for life insurance funds 9,458 7,839 – – Total assets 675,688 625,050 434,204 399,070 Net asset value per ordinary share – S$ (1) 13.38 12.80 9.10 8.96 OFF-BALANCE SHEET ITEMS Contingent liabilities 19,359 18,796 14,404 14,346 Commitments 214,115 201,029 142,090 134,531 Derivative financial instruments 1,698,782 1,438,850 1,379,054 1,127,408 (1) Unaudited and unreviewed.
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OVERSEA-CHINESE BANKING CORPORATION LIMITED AND ITS SUBSIDIARIES STATEMENT OF CHANGES IN EQUITY - GROUP For the financial year ended 31 December 2025 The accompanying notes form an integral part of these condensed financial statements. 5 Attributable to equity holders of the Bank S$ million Share capital and other equity Capital reserves (1) Fair value reserves Revenue reserves Total Other equity instruments issued by subsidiary Non- controlling interests Total equity At 1 January 2025 19,794 830 313 38,379 59,316 – 1,064 60,380 Total comprehensive income for the year Profit for the year – – – 7,422 7,422 – 138 7,560 Other comprehensive income Items that may be reclassified subsequently to income statement: Financial assets, at FVOCI Fair value gains for the year – – 756 – 756 – 32 788 Reclassification of gains to income statement - on disposal – – (67) – (67) – (4) (71) - on impairment – – (3) – (3) – (#) (3) Tax on net movements – – (89) – (89) – (6) (95) Cash flow and other hedges – – – (91) (91) – – (91) Net insurance financial result – – – (181) (181) – (12) (193) Currency translation on foreign subsidiaries and overseas branches – – – (424) (424) – – (424) Other comprehensive losses of associates – – (230) (105) (335) – – (335) Items that will not be reclassified subsequently to income statement: Currency translation on foreign operations attributable to non-controlling interests – – – – – – (44) (44) Equity instruments, at FVOCI, net change in fair value – – 69 91 160 – 11 171 Defined benefit plans remeasurements – – – 2 2 – # 2 Own credit – – – (#) (#) – – (#) Total other comprehensive income, net of tax – – 436 (708) (272) – (23) (295) Total comprehensive income for the year – – 436 6,714 7,150 – 115 7,265 Transactions with owners, recorded directly in equity Contributions by and distributions to owners Transfers 12 (82) – 70 – – – – Buy-back of shares for holding as treasury shares (220) – – – (220) – – (220) Cancellation of shares (225) – – – (225) – – (225) Dividends and distributions – – – (4,492) (4,492) – (53) (4,545) DSP reserve from dividends on unvested shares – – – (2) (2) – – (2) Perpetual capital securities issued – – – – – 676 – 676 Share-based payments for staff costs – 6 – – 6 – – 6 Shares issued to non-executive directors 1 – – – 1 – – 1 Shares transferred to DSP Trust – (18) – – (18) – – (18) Shares vested under DSP Scheme – 132 – – 132 – – 132 Treasury shares transferred/sold 223 (103) – – 120 – – 120 Total contributions by and distributions to owners (209) (65) – (4,424) (4,698) 676 (53) (4,075) At 31 December 2025 19,585 765 749 40,669 61,768 676 1,126 63,570 Included in the balances: Share of reserves of associates – – 369 5,455 5,824 – – 5,824 (1) Included regulatory loss allowance reserve of S$455 m illion at 1 January 2025 and S$445 million at 31 December 2025. (2) # represents amounts less than S$0.5 m illion.
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OVERSEA-CHINESE BANKING CORPORATION LIMITED AND ITS SUBSIDIARIES STATEMENT OF CHANGES IN EQUITY - GROUP For the financial year ended 31 December 2025 The accompanying notes form an integral part of these condensed financial statements. 6 Attributable to equity holders of the Bank S$ million Share capital and other equity Capital reserves (1) Fair value reserves Revenue reserves Total Other equity instruments issued by subsidiary Non- controlling interests Total equity At 1 January 2024 19,293 815 (439) 34,501 54,170 – 1,384 55,554 Total comprehensive income for the year Profit for the year – – – 7,587 7,587 – 161 7,748 Other comprehensive income Items that may be reclassified subsequently to income statement: Financial assets, at FVOCI Fair value gains/(losses) for the year – – 351 – 351 – (7) 344 Reclassification of (gains)/losses to income statement - on disposal – – (17) – (17) – 5 (12) - on impairment – – (3) – (3) – (1) (4) Tax on net movements – – (22) – (22) – 1 (21) Cash flow and other hedges – – – 70 70 – – 70 Net insurance financial result – – – (74) (74) – (3) (77) Currency translation on foreign subsidiaries and overseas branches – – – 334 334 – – 334 Other comprehensive income of associates – – 365 23 388 – – 388 Items that will not be reclassified subsequently to income statement: Currency translation on foreign operations attributable to non-controlling interests – – – – – – (2) (2) Equity instruments, at FVOCI, net change in fair value – – 78 72 150 – 22 172 Defined benefit plans remeasurements – – – # # – # # Own credit – – – (1) (1) – – (1) Total other comprehensive income, net of tax – – 752 424 1,176 – 15 1,191 Total comprehensive income for the year – – 752 8,011 8,763 – 176 8,939 Transactions with owners, recorded directly in equity Contributions by and distributions to owners Transfers 16 (6) – (10) – – – – Buy-back of shares for holding as treasury shares (194) – – – (194) – – (194) Dividends and distributions – – – (3,933) (3,933) – (54) (3,987) DSP reserve from dividends on unvested shares – – – 11 11 – – 11 Perpetual capital securities issued 450 – – – 450 – – 450 Share-based payments for staff costs – 6 – – 6 – – 6 Shares issued to non-executive directors 1 – – – 1 – – 1 Shares transferred to DSP Trust – (16) – – (16) – – (16) Shares vested under DSP Scheme – 107 – – 107 – – 107 Treasury shares transferred/sold 228 (76) – – 152 – – 152 Total contributions by and distributions to owners 501 15 – (3,932) (3,416) – (54) (3,470) Changes in non-controlling interest – – – (201) (201) – (442) (643) At 31 December 2024 19,794 830 313 38,379 59,316 – 1,064 60,380 Included in the balances: Share of reserves of associates – – 600 4,789 5,389 – – 5,389 (1) Included regulatory loss allowance reserve of S$455 m illion at 1 January 2024 and 31 December 2024. (2) # represents amounts less than S$0.5 m illion.
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OVERSEA-CHINESE BANKING CORPORATION LIMITED AND ITS SUBSIDIARIES STATEMENT OF CHANGES IN EQUITY - BANK For the financial year ended 31 December 2025 The accompanying notes form an integral part of these condensed financial statements. 7 S$ million Share capital and other equity Capital reserves (1) Fair value reserves Revenue reserves Total equity At 1 January 2025 19,794 534 (225) 21,929 42,032 Profit for the year – – – 5,099 5,099 Other comprehensive income/(losses) – – 245 (144) 101 Total comprehensive income for the year – – 245 4,955 5,200 Transfers 12 (12) – – – Buy-back of shares for holding as treasury shares (220) – – – (220) Cancellation of shares (225) – – – (225) Dividends and distributions – – – (4,475) (4,475) DSP reserve from dividends on unvested shares – – – (2) (2) Share-based payments for staff costs – 6 – – 6 Shares issued to non-executive directors 1 – – – 1 Treasury shares transferred/sold 223 – – – 223 At 31 December 2025 19,585 528 20 22,407 42,540 At 1 January 2024 19,293 544 (435) 18,935 38,337 Profit for the year – – – 6,861 6,861 Other comprehensive income – – 210 55 265 Total comprehensive income for the year – – 210 6,916 7,126 Transfers 16 (16) – – – Buy-back of shares for holding as treasury shares (194) – – – (194) Dividends and distributions – – – (3,933) (3,933) DSP reserve from dividends on unvested shares – – – 11 11 Perpetual capital securities issued 450 – – – 450 Share-based payments for staff costs – 6 – – 6 Shares issued to non-executive directors 1 – – – 1 Treasury shares transferred/sold 228 – – – 228 At 31 December 2024 19,794 534 (225) 21,929 42,032 (1) Included regulatory loss allowance reserve of S$444 million at 1 January 2025, 1 January 2024, 31 December 2025 and 31 December 2024.
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OVERSEA-CHINESE BANKING CORPORATION LIMITED AND ITS SUBSIDIARIES CONSOLIDATED CASH FLOW STATEMENT For the financial year ended 31 December 2025 The accompanying notes form an integral part of these condensed financial statements. 8 S$ million 2025 2024 Cash flows from operating activities Profit before income tax 9,123 8,976 Adjustments for non-cash items: Allowances for loans and other assets 665 690 Amortisation of intangible assets 21 59 Change in hedging transactions, FVTPL (1) securities and debt issued 377 356 Depreciation of property, plant and equipment and interest expense on lease liabilities 551 463 Net (gain)/loss on disposal of interests in associates/subsidiaries (63) # Net gain on disposal of government, debt and equity securities (58) (24) Net gain on disposal of property, plant and equipment (18) (36) Share-based costs 62 62 Share of results of associates, net of tax (1,077) (994) Others – (72) Operating profit before change in operating assets and liabilities 9,583 9,480 Change in operating assets and liabilities: Deposits of non-bank customers 37,565 26,052 Deposits and balances of banks 3,716 679 Derivative payables and other liabilities (571) 3,482 Trading portfolio liabilities (84) 87 Restricted balances with central banks (439) (354) Government securities and treasury bills (21,411) 1,188 FVTPL securities (4,840) (3,195) Placements with and loans to banks 4,465 (4,246) Loans to customers (22,082) (22,330) Derivative receivables and other assets 2,616 (3,969) Net change in other assets and li abilities for life insurance funds 2,087 (1,321) Cash provided by operating activities 10,605 5,553 Income tax paid (2) (1,480) (1,589) Net cash provided by operating activities 9,125 3,964 Cash flows from investing activities Net cash outflow from acquisition of subsidiary – (31) Dividends from associates 294 158 Purchases of debt and equity securities (41,960) (34,021) Purchases of investment securities for life insurance funds (60,728) (45,566) Purchases of property, plant and equipment (983) (614) Proceeds from disposal of debt and equity securities 36,193 30,750 Proceeds from disposal of interests in associates 115 # Proceeds from disposal of investment securities for life insurance funds 58,728 44,948 Proceeds from disposal of property, plant and equipment 45 44 Net cash used in investing activities (8,296) (4,332) Cash flows from financing activities Changes in non-controlling interests – (643) Buy-back of shares for holding as treasury shares/cancellation (445) (194) Dividends and distributions paid (4,545) (3,987) Net (redemption)/issue of other debt issued (558) 4,557 Net proceeds from perpetual capital securities issued 676 450 Repayments of lease liabilities (43) (78) Proceeds from subordinated debt issued 1,438 1,165 Redemption of subordinated debt issued (1,284) (1,352) Proceeds from treasury shares transferred/sold under the Bank’s employee share schemes 120 152 Net cash (used in)/provided by financing activities (4,641) 70 Net change in cash and cash equivalents (3,812) (298) Net currency translation adjustments (469) 257 Cash and cash equivalents at 1 January 28,829 28,870 Cash and cash equivalents at 31 December 24,548 28,829 (1) Fair value through profit or loss. (2) In 2025, the Group paid income tax of S$1,480 million (2024: S$1,589 million), of which S$709 million (2024: S$786 million) was paid in Singapore and S$771 million (2024: S$803 million) in other jurisdictions. (3) # represents amounts less than S$0.5 m illion.
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OVERSEA-CHINESE BANKING CORPORATION LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONDENSED FINANCIAL STATEMENTS For the financial year ended 31 December 2025 9 These notes form an integral part of the condensed financial statements. The condensed financial statements were authorised by the Board of Directors on 24 February 2026. 1. General Oversea-Chinese Banking Corporation Limited (the Bank) is incorporated and domiciled in Singapore and is listed on the Singapore Exchange Securities Trading Limited. The address of the Bank’s registered office is 63 Chulia Street, #10-00 OCBC Centre East, Singapore 049514. The condensed financial statements relate to the Bank and its subsidiaries (together referred to as the Group) and the Group's interests in associates. The Group is principally engaged in the business of banking, life insurance, general insurance, asset management, investment holding, futures and stockbroking. 2. Basis of preparation 2.1 Statement of compliance The condensed financial statements have been prepared in accordance with Singapore Financial Reporting Standards (International) (SFRS(I)) 1-34 Interim Financial Reporting, and do not include all of the information required for full annual financial statements. These condensed financial statements are to be read in conjunction with the latest annual audited financial statements. 2.2 Basis of presentation The condensed financial statements are presented in Singapore Dollar, rounded to the nearest million unless otherwise stated. # represents amounts less than S$0.5 million. The condensed financial statements have been prepared under the historical cost convention, except as disclosed in the latest annual audited financial statements. 2.3 Use of estimates and judgements The preparation of condensed financial statements in conformity with SFRS(I) requires management to exercise its judgement, use estimates and make assumptions in the application of accounting policies on the reported amounts of assets, liabilities, revenues and expenses. Although these estimates are based on management’s best knowledge of current events and actions, actual results may ultimately differ from these estimates. In preparing these condensed financial statements, the significant judgements made by management in applying the accounting policies and the key sources of estimation uncertainty were the same as those applied in the financial statements as at and for the year ended 31 December 2024, except for the following additions. The significant accounting estimates include impairment of financial assets and impairment of goodwill and other intangible assets, as discussed below: Impairment of financial assets In determining whether the credit risk of the Group’s financial assets/exposures has increased significantly since initial recognition, the Group considers quantitative and qualitative information such as the Group’s historical credit assessment experience and available forward-looking information. Expected credit losses (ECL) estimates are based on probability-weighted forward-looking economic scenarios. The parameters used in ECL measurement (probability of default, loss given default and exposure at default) incorporates forward-looking information. The determination of the forward-looking economic scenarios and incorporation of forward-looking information into ECL measurement requires management to exercise judgement based on its assessment of current macroeconomic conditions.
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OVERSEA-CHINESE BANKING CORPORATION LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONDENSED FINANCIAL STATEMENTS For the financial year ended 31 December 2025 10 2. Basis of preparation (continued) 2.3 Use of estimates and judgements (continued) Impairment of financial assets (continued) Allowances for non-credit-impaired loans to customers As of 31 December 2025, the forward-looking scenarios used in the ECL model have been updated from those as of 31 December 2024, which reflects the latest macroeconomic view. Additionally, post-model adjustments were made to address events that are not incorporated in the baseline ECL. These post-model adjustments were reviewed and approved in accordance with the Group’s ECL framework, and were made to more accurately reflect the continued weakness of certain industries and segments. Sensitivity of ECL ECL is estimated to increase by S$3,016 million (2024: S$2,173 million) should all the exposures in Stage 1 (12-month ECL) move to Stage 2 (lifetime ECL). Allowances for credit-impaired loans to customers In respect of credit-impaired exposures, management judgement and estimation are applied in, amongst others, identifying impaired exposures, estimating the related recoverable cash flows and where applicable, determining collateral values and timing of realisation. Judgements and assumptions in respect of these matters have been updated to reflect the relevant information as of 31 December 2025. The Group’s allowances for credit-impaired loans to customers are disclosed in Note 12. Impairment of goodwill and other intangible assets The recoverable amount of goodwill and other intangible assets is determined based on the present value of estimated future cash flows expected to arise from the cash-generating units’ continuing operations. In light of current macroeconomic conditions, management reassessed the assumptions applied in estimating the future cash flows, including growth rates and discount rates used in computing the recoverable amount, and determined that no impairment should be recognised during the year. 2.4 Changes in accounting policies The following new/revised financial reporting standards and interpretations were applied with effect from 1 January 2025: SFRS(I) Title SFRS(I) 1-21 (Amendments), SFRS(I) 1 (Amendments) Lack of Exchangeability The accounting policies applied by the Group in the condensed financial statements are the same as those applied by the Group in its financial statements as at and for the year ended 31 December 2024, except for the new/revised financial reporting standards and interpretations as set out above. The initial application of the above standards (including their consequential amendments) and interpretations did not have any material impact on the Group’s condensed financial statements. There are a number of new/revised financial reporting standards in issue but not yet effective. They are not expected to have a significant impact on the Group’s financial statements when adopted except as described below.
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OVERSEA-CHINESE BANKING CORPORATION LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONDENSED FINANCIAL STATEMENTS For the financial year ended 31 December 2025 11 2. Basis of preparation (continued) 2.4 Changes in accounting policies (continued) SFRS(I) 18 Presentation and Disclosure in Financial Statements SFRS(I) 18 will replace SFRS(I) 1-1 Presentation of Financial Statements and applies for annual reporting periods beginning on or after 1 January 2027. While SFRS(I) 18 does not impact the recognition and measurement of items in the financial statements, it impacts the presentation and disclosure of the income statement and introduces additional disclosure requirements, in particular those related to the income statement and providing management- defined performance measures within the financial statements. The Group is currently assessing the impact of applying the new standard on the Group’s consolidated financial statements, particularly with respect to the structure of the Group’s income statement, disclosure of management- defined performance measures and other additional disclosure requirements. The Group will apply the new st andard from its mandatory effective date of 1 January 2027. Retrospective application is required. Therefore, comparative information for the financial year ending 31 December 2026 will be restated in accordance with SFRS(I) 18. 3. Net interest income GROUP S$ million 2H 2025 (1) 2H 2024 (1) 2025 2024 Interest income Loans to customers 6,619 7,781 13,745 15,628 Placements with and loans to banks 1,132 1,756 2,606 3,552 Other interest-earning assets 1,921 1,677 3,725 3,264 9,672 11,214 20,076 22,444 Interest expense Deposits of non-bank customers (4,344) (5,238) (9,226) (10,552) Deposits and balances of banks (227) (246) (470) (518) Other borrowings (579) (842) (1,230) (1,619) (5,150) (6,326) (10,926) (12,689) Net interest income 4,522 4,888 9,150 9,755 (1) Unaudited and unreviewed.
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OVERSEA-CHINESE BANKING CORPORATION LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONDENSED FINANCIAL STATEMENTS For the financial year ended 31 December 2025 12 4. Fees and commissions (net) GROUP S$ million 2H 2025 (1) 2H 2024 (1) 2025 2024 Gross fee and commission income Brokerage 65 47 118 87 Credit card 212 205 414 404 Fund management 64 54 121 108 Guarantees 5 5 10 12 Investment banking 67 63 144 109 Loan-related 138 112 262 213 Service charges 54 61 116 124 Trade-related and remittances 141 140 278 271 Wealth management (2) 819 565 1,443 1,079 Others 18 14 35 26 1,583 1,266 2,941 2,433 Fee and commission expense (298) (241) (530) (463) Fees and commissions (net) 1,285 1,025 2,411 1,970 5. Other income GROUP S$ million 2H 2025 (1) 2H 2024 (1) 2025 2024 Disposal of investment securities 7 8 58 24 Disposal/liquidation of subsidiaries and associates 63 – 63 (#) Disposal of property, plant and equipment 1 20 18 36 Rental and property-related income 48 47 94 91 Dividends from FVOCI securities 17 18 35 35 Others 19 67 32 108 Other income 155 160 300 294 6. Other operating expenses GROUP S$ million 2H 2025 (1) 2H 2024 (1) 2025 2024 Property, plant and equipment Depreciation 282 247 544 456 Maintenance and rental 97 115 180 201 Others 251 219 462 405 630 581 1,186 1,062 Other operating expenses 472 456 789 843 Total other operating expenses 1,102 1,037 1,975 1,905 7. Allowances for loans and other assets GROUP S$ million 2H 2025 (1) 2H 2024 (1) 2025 2024 Allowances/(write-back): Impaired loans 342 152 486 403 Impaired other assets 34 40 49 123 Non-impaired loans (31) 185 124 158 Non-impaired other assets (6) – 6 6 Allowances for loans and other assets 339 377 665 690 (1) Unaudited and unreviewed. (2) Includes trust and custodian fees.
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OVERSEA-CHINESE BANKING CORPORATION LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONDENSED FINANCIAL STATEMENTS For the financial year ended 31 December 2025 13 8. Dividends/distributions GROUP S$ million 2025 2024 Ordinary dividends: Final tax-exempt dividend of 41 cents paid for the previous financial year (2024: tax-exempt dividend of 42 cents) 1,844 1,891 Interim tax-exempt dividend of 41 cents paid for the current financial year (2024: tax-exempt dividend of 44 cents) 1,843 1,978 Special tax-exempt dividend of 16 cents paid for the previous financial year (2024: nil) 720 – Distributions for other equity instruments: 3.0% perpetual capital securities 6 6 3.9% perpetual capital securities 20 20 4.5% perpetual capital securities 25 25 4.05% perpetual capital securities 18 13 5.398% perpetual capital securities issued by subsidiary 16 – Total dividends and distributions 4,492 3,933 9. Share capital GROUP AND BANK Half year ended 31 Dec (1) Financial year ended 31 Dec Shares (million) 2025 2024 2025 2024 Issued ordinary shares At beginning of period/year 4,515 4,515 4,515 4,515 Cancellation of shares (14) – (14) – Shares issued to non-executive directors – – # # At end of period/year 4,501 4,515 4,501 4,515 Treasury shares At beginning of period/year (19) (21) (15) (21) Share buyback (13) (3) (27) (13) Cancellation of shares 14 – 14 – Share Option Scheme 1 3 4 6 Share Purchase Plan 6 6 7 7 Treasury shares transferred to DSP Trust – – 6 6 At end of period/year (11) (15) (11) (15) Total issued ordinary shares excluding treasury shares 4,490 4,500 4,490 4,500 Issued share capital (S$ million) 17,887 18,096 17,887 18,096 (1) Unaudited and unreviewed. (2) # represents less than 500,000 shares. Pursuant to the share purchase mandate approved at the Annual General Meeting held on 17 April 2025, the Bank purchased a total of 13 million ordinary shares in the half year ended 31 December 2025. The ordinary shares were purchased by way of open market acquisitions at prices ranging from S$16.25 to S$17.13 per share and the total consideration paid was S$216 million (including transaction costs). As at 31 December 2025, the number of options outstanding under the OCBC Share Option Scheme 2001 was 5 million (31 December 2024: 8 million) and the number of acquisition rights outstanding under the OCBC Employee Share Purchase Plan was 15 million (31 December 2024: 16 million).
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OVERSEA-CHINESE BANKING CORPORATION LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONDENSED FINANCIAL STATEMENTS For the financial year ended 31 December 2025 14 10. Deposits and balances of non-bank customers and banks GROUP S$ million 31 Dec 2025 31 Dec 2024 Deposits of non-bank customers Fixed deposits 166,140 161,185 Savings deposits 105,869 81,150 Current accounts 111,441 109,603 Others 44,836 38,749 428,286 390,687 Deposits and balances of banks 15,280 11,565 Total deposits 443,566 402,252 11. Debt issued GROUP S$ million 31 Dec 2025 31 Dec 2024 Unsecured Subordinated debt 3,551 3,492 Fixed and floating rate notes 4,689 3,938 Commercial paper 15,299 17,867 Structured notes 5,428 4,833 Secured Covered bonds 1,515 1,423 30,482 31,553 Debt issued by maturity Within one year 19,630 23,860 Over one year 10,852 7,693 30,482 31,553 12. Loans to customers GROUP S$ million 31 Dec 2025 31 Dec 2024 Gross loans 341,120 319,166 Allowances Impaired loans (1,577) (1,278) Non-impaired loans (2,851) (2,792) Net loans 336,692 315,096
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OVERSEA-CHINESE BANKING CORPORATION LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONDENSED FINANCIAL STATEMENTS For the financial year ended 31 December 2025 15 13. Segment information The Group provides operating segment information primarily by business and additional segment information by geography. 13.1 Business segments Global Consumer/ Global Private Wholesale Global S$ million Banking Banking Markets Insurance Others Group Half year ended 31 December 2025 (1) Net interest income 1,444 2,401 539 102 36 4,522 Non-interest income 1,349 580 184 800 (23) 2,890 Total income 2,793 2,981 723 902 13 7,412 Operating profit before allowances and amortisation 1,165 2,044 487 760 (122) 4,334 Amortisation of intangible assets (7) – – (3) – (10) Allowances for loans and other assets (50) (257) 7 – (39) (339) Operating profit after allowances and amortisation 1,108 1,787 494 757 (161) 3,985 Share of results of associates, net of tax – – – – 540 540 Profit before income tax 1,108 1,787 494 757 379 4,525 Other information: Capital expenditure 56 14 1 75 636 782 Depreciation 56 10 2 7 207 282 Half year ended 31 December 2024 (1) Net interest income 1,603 2,522 337 89 337 4,888 Non-interest income 1,018 522 265 502 23 2,330 Total income 2,621 3,044 602 591 360 7,218 Operating profit before allowances and amortisation 1,045 2,092 363 492 203 4,195 Amortisation of intangible assets (8) – – (4) – (12) Allowances for loans and other assets (24) (365) – 2 10 (377) Operating profit after allowances and amortisation 1,013 1,727 363 490 213 3,806 Share of results of associates, net of tax – – – – 496 496 Profit before income tax 1,013 1,727 363 490 709 4,302 Other information: Capital expenditure 48 8 – 66 339 461 Depreciation 53 7 3 4 180 247 (1) Unaudited and unreviewed.
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OVERSEA-CHINESE BANKING CORPORATION LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONDENSED FINANCIAL STATEMENTS For the financial year ended 31 December 2025 16 13. Segment information (continued) 13.1 Business segments (continued) Global Consumer/ Global Private Wholesale Global S$ million Banking Banking Markets Insurance Others Group Year ended 31 December 2025 Net interest income 2,945 4,807 1,029 205 164 9,150 Non-interest income 2,468 1,118 381 1,517 (20) 5,464 Total income 5,413 5,925 1,410 1,722 144 14,614 Operating profit before allowances and amortisation 2,278 4,087 945 1,497 (75) 8,732 Amortisation of intangible assets (14) – – (7) – (21) Allowances for loans and other assets (55) (499) 3 1 (115) (665) Operating profit after allowances and amortisation 2,209 3,588 948 1,491 (190) 8,046 Share of results of associates, net of tax – – – – 1,077 1,077 Profit before income tax 2,209 3,588 948 1,491 887 9,123 Other information: Capital expenditure 93 49 1 120 829 1,092 Depreciation 105 18 5 10 406 544 Year ended 31 December 2024 Net interest income 3,242 5,085 560 173 695 9,755 Non-interest income 1,963 990 436 1,253 76 4,718 Total income 5,205 6,075 996 1,426 771 14,473 Operating profit before allowances and amortisation 2,252 4,264 575 1,216 424 8,731 Amortisation of intangible assets (15) – – (24) (20) (59) Allowances for loans and other assets (66) (808) (9) (2) 195 (690) Operating profit after allowances and amortisation 2,171 3,456 566 1,190 599 7,982 Share of results of associates, net of tax – – – – 994 994 Profit before income tax 2,171 3,456 566 1,190 1,593 8,976 Other information: Capital expenditure 86 17 1 114 470 688 Depreciation 99 14 4 7 332 456
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OVERSEA-CHINESE BANKING CORPORATION LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONDENSED FINANCIAL STATEMENTS For the financial year ended 31 December 2025 17 13. Segment information (continued) 13.1 Business segments (continued) Global Consumer/ Global Private Wholesale Global S$ million Banking Banking Markets Insurance Others Group At 31 December 2025 Segment assets 151,401 225,800 157,042 122,970 53,198 710,411 Unallocated assets 489 Elimination (35,212) Total assets 675,688 Segment liabilities 217,383 188,350 89,171 111,187 39,130 645,221 Unallocated liabilities 2,109 Elimination (35,212) Total liabilities 612,118 Other information: Gross non-bank loans 116,645 220,055 3,773 480 167 341,120 Non-performing assets 654 2,586 2 1 – 3,243 At 31 December 2024 Segment assets 147,452 212,508 139,864 114,296 54,798 668,918 Unallocated assets 538 Elimination (44,406) Total assets 625,050 Segment liabilities 207,593 165,784 82,282 104,402 47,295 607,356 Unallocated liabilities 1,720 Elimination (44,406) Total liabilities 564,670 Other information: Gross non-bank loans 107,752 207,785 3,189 323 117 319,166 Non-performing assets 577 2,288 3 1 – 2,869
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OVERSEA-CHINESE BANKING CORPORATION LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONDENSED FINANCIAL STATEMENTS For the financial year ended 31 December 2025 18 13. Segment information (continued) 13.1 Business segments (continued) OCBC Group’s businesses are presented in the following customer segments and business activities: Global Consumer/Private Banking, Global Wholesale Banking, Global Markets and Insurance. Global Consumer/Private Banking Global Consumer/Private Banking provides a full range of products and services to individual customers. At Global Consumer Banking, the products and services offered include deposit products (checking accounts, savings and fixed deposits), consumer loans (housing loans and other personal loans), credit cards, investments and wealth management products. Private Banking caters to the specialised banking needs of high net worth individuals, offering wealth management expertise, including investment advice and portfolio management services, estate and trust planning, and wealth structuring. Global Wholesale Banking Global Wholesale Banking serves institutional customers ranging from large corporates and the public sector to small and medium enterprises. The business provides a full range of financing solutions including long-term project financing, short-term credit, working capital and trade financing, as well as customised and structured equity-linked financing. It also provides customers with a broad range of products and services such as cash management and custodian services, capital market solutions, corporate finance services and advisory banking, and treasury products. Global Markets Global Markets is responsible for the management of the Group’s asset and liability interest rate positions, engages in foreign exchange activities, money market operations, fixed income and derivatives trading, and offers structured treasury products, digital assets, brokerage services and financial solutions to meet customers’ investment and hedging needs. Income from treasury products and services offered to customers in Global Consumer/Private Banking and Global Wholesale Banking, is reflected in the respective business segments. Insurance The Group’s insurance business, including its fund management activities, is undertaken by the Bank’s subsidiary Great Eastern Holdings Limited and its subsidiaries, which provide both life and general insurance products to its customers mainly in Singapore and Malaysia. Others Others comprise mainly property holding, investment holding and items not attributable to the business segments described above. Where there are material changes in the organisational structure and management reporting methodologies, segment information for prior periods is reclassified to allow comparability.
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OVERSEA-CHINESE BANKING CORPORATION LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONDENSED FINANCIAL STATEMENTS For the financial year ended 31 December 2025 19 13. Segment information (continued) 13.2 Geographical segments S$ million 2H 2025 (1) 2H 2024 (1) 2025 2024 Total income Singapore 4,381 4,347 8,644 8,913 Malaysia 924 844 1,860 1,655 Indonesia 532 559 1,054 1,085 Greater China 1,036 972 2,008 1,863 Other Asia Pacific 167 156 323 309 Rest of the World 372 340 725 648 7,412 7,218 14,614 14,473 Operating profit before allowances and amortisation Singapore 2,580 2,534 5,137 5,447 Malaysia 646 589 1,357 1,174 Indonesia 265 276 536 539 Greater China 526 479 1,008 923 Other Asia Pacific 115 111 228 213 Rest of the World 202 206 466 435 4,334 4,195 8,732 8,731 Profit before income tax Singapore 2,624 2,587 5,056 5,489 Malaysia 666 558 1,378 1,139 Indonesia 237 256 493 527 Greater China 811 620 1,671 1,277 Other Asia Pacific 107 83 179 149 Rest of the World 80 198 346 395 4,525 4,302 9,123 8,976 (1) Unaudited and unreviewed. S$ million 31 Dec 2025 31 Dec 2024 Total assets Singapore 396,538 362,744 Malaysia 74,955 68,066 Indonesia 24,895 24,657 Greater China 105,110 103,540 Other Asia Pacific 25,456 22,945 Rest of the World 48,734 43,098 675,688 625,050 The geographical segment analysis is based on the location where assets or transactions are booked. The geographical information is stated after elimination of intra-group transactions and balances.
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OVERSEA-CHINESE BANKING CORPORATION LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONDENSED FINANCIAL STATEMENTS For the financial year ended 31 December 2025 20 14. Fair values of financial instruments 14.1 Valuation governance framework The Group has an established governance framework with respect to the measurement of fair values, which includes formalised processes for the review and validation of fair values independent of the businesses entering into the transactions. The Market Risk Management (MRM) function within the Group Risk Management Division (GRM) is responsible for the model validation process. Financial models are used to price financial instruments and to calculate value- at-risk (VaR). MRM ensures that the models used are fit for their intended purposes through internal independent validation and periodic review. MRM sources market rates independently for risk measurement and valuation. The Treasury Financial Control and Advisory – Valuation Control function within the Group Finance Division is responsible for the establishment of the overall valuation control framework. This includes, but is not limited to, reviewing and recommending appropriate valuation adjustment methodologies, independent price testing, and identifying valuation gaps. Valuation policies are formulated and reviewed annually by the Valuation Control function, and approved by the Market Risk Management Committee, the Group Chief Executive Officer (CEO) and Board Risk Management Committee (BRMC). Valuation adjustments are applied to account for input parameter uncertainties, known model deficiencies and other factors that may affect valuation. The main valuation adjustments are described below. Bid Offer Adjustments Bid offer adjustments are applied to account for close out cost when a position is marked at mid-price. Model Risk Adjustments Model risk adjustments are applied when there are inherent limitations in the valuation models used by the Bank. Day 1 Profit or Loss Adjustments Day 1 profit or loss adjustments are applied when the valuation technique involves the use of significant inputs which are not readily observable. The difference between the fair value at initial recognition and the transaction price is deferred as an adjustment. The Day 1 profit or loss adjustments are released to the income statement when the significant inputs become observable, when the transaction is derecognised or amortised over the life of the transaction. Credit Valuation Adjustments Credit valuation adjustments are applied to account for the expected losses due to counterparty default on derivative positions. Collateral Valuation Adjustments Collateral valuation adjustments may be applied to collateralised derivatives due to deviations from perfect collateralisation such as when the derivative is denominated in one currency but is collateralised in another currency. Parameter Uncertainty Adjustments These valuation adjustments mainly include adjustments for illiquid prices or internal methodologies used to derive model inputs. The Group’s internal audit provides independent assurance on the respective divisions’ compliance with the policy.
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OVERSEA-CHINESE BANKING CORPORATION LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONDENSED FINANCIAL STATEMENTS For the financial year ended 31 December 2025 21 14. Fair values of financial instruments (continued) 14.2 Fair values Financial instruments comprise financial assets, financial liabilities and off-balance sheet financial instruments. The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. For financial assets and liabilities not carried at fair value on the financial statements, the Group has determined that their fair values were not materially different from the carrying amounts at the reporting date. The carrying amounts and fair values of financial instruments of the Group are described below. Financial assets Fair values of cash and balances with central banks, placements with banks, interest and other short term receivables are expected to approximate their carrying amounts due to their short tenor or frequent re-pricing. Securities held by the Group, comprising government securities and debt and equity securities are substantially carried at fair value on the balance sheet. Non-bank customer loans are mainly carried at amortised cost on the balance sheet, net of allowances for impaired and non-impaired loans. The Group deems that the carrying amounts of non-bank loans approximate their fair values as substantially all the loans are subject to frequent re-pricing. Financial liabilities Fair value of certain financial liabilities, which include mainly customer deposits with no stated maturity, interbank borrowings and borrowings under repurchase agreements, are expected to approximate their carrying amounts due to their short tenor. For non-bank customer term deposits, contractual or derived cash flows are discounted at market rates as at reporting date to estimate the fair values, which approximate the carrying amounts. The fair values of the Group’s subordinated term notes and covered bonds are determined based on quoted market prices and independent broker offer prices. For other debts issued which are usually short term, the fair values approximate the carrying amounts. 14.3 Fair value hierarchy The Group determines the fair values of its financial assets and liabilities using various measurements. The different levels of fair value measurements are as follows: x Level 1 – quoted prices (unadjusted) in active markets for identical assets or liabilities; x Level 2 – inputs other than quoted prices included within Level 1 that are observable market data either directly (i.e. as prices) or indirectly (i.e. derived from observable market data). The valuation techniques that use market parameters as inputs include, but are not limited to, yield curves, volatilities and foreign exchange rates; and x Level 3 – inputs for the valuation that are not based on observable market data.
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OVERSEA-CHINESE BANKING CORPORATION LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONDENSED FINANCIAL STATEMENTS For the financial year ended 31 December 2025 22 14. Fair values of financial instruments (continued) 14.3 Fair value hierarchy (continued) The following table summarises the Group’s assets and liabilities measured at fair values subsequent to initial recognition by level of the fair value hierarchy: GROUP 31 Dec 2025 31 Dec 2024 S$ million Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial assets measured at fair value Placements with and loans to banks 4,182 15,213 – 19,395 11,383 10,514 – 21,897 Debt and equity securities 36,705 12,684 1,951 51,340 31,176 9,405 2,059 42,640 Derivative receivables 117 12,261 657 13,035 45 16,574 584 17,203 Government treasury bills and securities 44,865 7,875 – 52,740 28,766 5,502 – 34,268 Assets for life insurance funds 53,137 42,625 4,614 100,376 63,363 27,271 3,648 94,282 Total 139,006 90,658 7,222 236,886 134,733 69,266 6,291 210,290 Non-financial assets measured at fair value Investment properties for life insurance funds – – 2,095 2,095 – – 1,939 1,939 Associates – – 86 86 – – 68 68 Total – – 2,181 2,181 – – 2,007 2,007 Financial liabilities measured at fair value Derivative payables 314 13,205 559 14,078 160 15,482 596 16,238 Trading portfolio liabilities 197 – – 197 281 – – 281 Debt issued/other deposits – 3,396 1,212 4,608 – 3,436 – 3,436 Other liabilities for life insurance funds 64 142 – 206 237 458 – 695 Total 575 16,743 1,771 19,089 678 19,376 596 20,650 During the financial year, the Group transferred financial assets from Level 2 to Level 1 as prices became observable arising from increased market activity. Financial assets were also transferred from Level 1 to Level 2 when quoted prices become unobservable arising from reduced market activity.
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OVERSEA-CHINESE BANKING CORPORATION LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONDENSED FINANCIAL STATEMENTS For the financial year ended 31 December 2025 23 14. Fair values of financial instruments (continued) 14.3 Fair value hierarchy (continued) Valuation techniques and unobservable inputs for Level 3 instruments GROUP S$ million Fair value at 31 Dec 2025 Classification Valuation techniques Unobservable inputs Financial assets Equity securities 1,951 FVTPL/FVOCI Net asset value/ Multiples/Discounted cash flows Value of net asset/ Earnings and multiples/Cash flows and discount rate Derivative receivables 657 FVTPL Option pricing model Volatility/Correlation Derivatives pricing Yield curve Assets for life insurance funds 4,614 FVTPL/FVOCI Net asset value Value of net asset Total 7,222 Financial liabilities Derivative payables 559 FVTPL Option pricing model Derivatives pricing Volatility/Correlation Yield curve Debt issued 1,212 FVTPL Net asset value Value of net asset Total 1,771 GROUP S$ million Fair value at 31 Dec 2024 Classification Valuation techniques Unobservable inputs Financial assets Equity securities 2,059 FVTPL/FVOCI Net asset value/ Multiples/Discounted cash flows Value of net asset/ Earnings and multiples/Cash flows and discount rate Derivative receivables 584 FVTPL Option pricing model Volatility/Correlation Derivatives pricing Yield curve Assets for life insurance funds 3,648 FVTPL/FVOCI Net asset value Value of net asset Total 6,291 Financial liabilities Derivative payables 596 FVTPL Option pricing model Derivatives pricing Volatility/Correlation Yield curve Total 596
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OVERSEA-CHINESE BANKING CORPORATION LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONDENSED FINANCIAL STATEMENTS For the financial year ended 31 December 2025 24 1 4. Fair values of financial instruments (continued) 14.3 Fair value hierarchy (continued) Movements in Level 3 financial assets and liabilities (1) Relates to transfers from Level 3 to Level 2 due to use of inputs based on market observable data. 2025 2024 GROUP S$ million Debt issued Derivative payables Total Derivative payables Total Financial liabilities measured at fair value At 1 January – 596 596 616 616 Additions 1,318 29 1,347 30 30 Settlements/disposals – (36) (36) (27) (27) Transfer out (1) – – – (117) (117) (Gains)/losses recognised in - profit or loss (106) (13) (119) 82 82 - other comprehensive income – (17) (17) 12 12 At 31 December 1,212 559 1,771 596 596 Unrealised gains/(losses) included in profit or loss for liabilities held at the end of the year 106 (609) (503) (524) (524) (1) Relates to transfers from Level 3 to Level 2 due to use of inputs based on market observable data. GROUP S$ million Debt and equity securities Loans to customers Derivative receivables Assets for life insurance funds Total Financial assets measured at fair value At 1 January 2025 2,059 – 584 3,648 6,291 Additions 661 – 29 1,457 2,147 Settlements/disposals (455) – (35) (378) (868) (Losses)/gains recognised in - profit or loss (295) – 96 (115) (314) - other comprehensive income (19) – (17) 2 (34) At 31 December 2025 1,951 – 657 4,614 7,222 Unrealised (losses)/gains included in profit or loss for assets held at the end of the year (138) – 721 (115) 468 GROUP S$ million Debt and equity securities Loans to customers Derivative receivables Assets for life insurance funds Total Financial assets measured at fair value At 1 January 2024 2,930 10 497 2,793 6,230 Additions 142 – 31 1,032 1,205 Settlements/disposals (223) (15) (27) (198) (463) Transfer out (1) (461) – (108) – (569) (Losses)/gains recognised in - profit or loss (275) 5 179 21 (70) - other comprehensive income (54) – 12 (#) (42) At 31 December 2024 2,059 – 584 3,648 6,291 Unrealised (losses)/gains included in profit or loss for assets held at the end of the year (291) – 622 21 352
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OVERSEA-CHINESE BANKING CORPORATION LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONDENSED FINANCIAL STATEMENTS For the financial year ended 31 December 2025 25 14. Fair values of financial instruments (continued) 14.3 Fair value hierarchy (continued) Movements in Level 3 non-financial assets 2025 2024 GROUP S$ million Investment properties for life insurance funds (1) Associates (2) Total Investment properties for life insurance funds (1) Associates (2) Total Non-financial assets measured at fair value At 1 January 1,939 68 2,007 1,881 95 1,976 Additions 1 – 1 7 – 7 Reclassification from property, plant and equipment 12 – 12 – – – Gains/(losses) recognised in - profit or loss 131 15 146 34 (32) 2 - other comprehensive income 12 3 15 17 5 22 At 31 December 2,095 86 2,181 1,939 68 2,007 (1) The fair value of investment properties is determined based on a combination of income approach, comparison approach and capitalisation approach under Level 3 fair value measurements. (2) The fair value of investment in associate is determined based on income approach under Level 3 fair value measurements.
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26 Other Information Required by Listing Rule Appendix 7.2
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27 OTHER INFORMATION 1. Audit or review The consolidated income statement and consolidated statement of comprehensive income of Oversea- Chinese Banking Corporation Limited (the Bank) and its subsidiaries (the Group) for the six-month peri od ended 3 1 December 2025 and certain explanatory notes as presented in this announcement have not be en audi ted or reviewed. The Group has prepared a separate set of financial statements for the year ended 31 December 2025 in accordance with Singapore Financial Reporting Standards (International), on which a separate auditor’s report dated 24 February 2026 has been issued. A copy of this auditor’s report is attached to this announcement. 2. Review of the performance of the Group for the financial year ended 31 December 2025 Please refer to the “Media Release” section. 3. Dividend information Please refer to “Letter to Shareholders”. 4. Interested person transactions The Bank has not obtained a general mandate from shareholders for Interested Person Transactions pursuant to Rule 920(1) of the Listing Manual. 5. Disclosure of persons occupying managerial positions who are related to a director, CEO or substantial shareholder Pursuant to Rule 704(13) of the Listing Manual, for the financial year ended 31 December 2025, there was no per son occupying managerial position in the Bank or in any of its principal subsidiaries who is a relative of a director or chief executive officer or substantial shareholder of the Bank. 6. Undertaking from directors and executive officers The Bank has procured undertakings from all its directors and executive officers in the format set out in Appendix 7.7 of the Listing Manual pursuant to Rule 720(1) of the Listing Manual.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OVERSEA-CHINESE BANKING CORPORATION LIMITED Report on the Audit of the Financial Statements Our Opinion In our opinion, the accompanying consolidated financial statements of Oversea-Chinese Banking Corporation Limited ("the Bank") and its subsidiaries ("the Group") and the balance sheet, income statement, statement of comprehensive income and statement of changes in equity of the Bank are properly drawn up in accordance with the provisions of the Companies Act 1967 ("the Act") and Singapore Financial Reporting Standards (International) ("SFRS(I)s") so as to give a true and fair view of the consolidated financial position of the Group and the financial position of the Bank as at 31 December 2025 and of the consolidated financial performance, consolidated changes in equity and consolidated cash flows of the Group and of the financial performance and changes in equity of the Bank for the financial year ended on that date. What we have audited The financial statements of the Bank and the Group comprise: • the income statements of the Group and of the Bank for the financial year ended 31 December 2025; • the statements of comprehensive income of the Group and of the Bank for the financial year then ended; • the balance sheets of the Group and of the Bank as at 31 December 2025; • the statement of changes in equity of the Group for the financial year then ended; • the statement of changes in equity of the Bank for the financial year then ended; • the consolidated cash flow statement of the Group for the financial year then ended; and • the notes to the financial statements, including material accounting policy information. Basis for Opinion We conducted our audit in accordance with Singapore Standards on Auditing ("SSAs"). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Independence We are independent of the Group in accordance with the Accounting and Corporate Regulatory Authority Code of Professional Conduct and Ethics for Public Accountants and Accounting Entities ("ACRA Code"), as applicable to audits of financial statements of public interest entities, together with the ethical requirements that are relevant to audits of the financial statements of public interest entities in Singapore. We have also fulfilled our other ethical responsibilities in accordance with these requirements and the ACRA Code. Our Audit Approach As part of designing our audit, we determined materiality and assessed the risks of material misstatement in the accompanying financial statements. In particular, we considered where management made subjective judgements; for example, in respect of significant accounting estimates that involved making assumptions and considering future events that are inherently uncertain. As in all of our audits, we also addressed the risk of management override of internal controls, including among other matters consideration of whether there was evidence of bias that represented a risk of material misstatement due to fraud. The auditor's report dated 24 February 2026, as extr acted from the financial statements of Oversea-Chinese Banking Corporation Limited and its subsidiaries for the year ended 31 December 2025, which have been prepared in accordance with Singapore Financial Reporting Standards (International), is as follows: