OCBC

OCBC: UOBKH says that on the whole OCBC is weathering negative impact from tapering. Wealth management business remains resilient. While transaction volume for existing clients is affected by the higher risk aversion, contributions from new clients have increased due to inflows and expansion of AUM. In Indonesia, asset quality was resilient as OCBC NISP is conservatively managed and provides rupiah funding for domestic industries. Maintain BUY with TP $11.86