Singapore's second-largest lender Oversea-Chinese Banking Corp. on Thursday reported a better-than-expected quarterly profit, sending its shares to a record high.
Here are five highlights of the results:
- OCBC's return on equity, a measure of profitability, rises to highest level since June 2015
- The lender saw gains in its wealth management and insurance businesses
- Income from wealth management unit jumped 52 percent due to its $225 million acquisition of Barclays' Asia wealth management business
- Non-performing loans ratio was stable in the three months ended June
- OCBC's insurance unit Great Eastern Holdings on Tuesday said its second-quarter profit more than doubled