5 things you need to know about OCBC results

Singapore's second-largest lender Oversea-Chinese Banking Corp on Thursday reported a better-than-expected quarterly profit.

OCBC bank Q4 profits
People pass an Oversea-Chinese Banking Corporation (OCBC) bank automated teller machine in Singapore January 5, 201

Singapore's second-largest lender Oversea-Chinese Banking Corp on Thursday reported a better-than-expected quarterly profit.

Here are five highlights of the results:

  • Net profit rose 12 percent to S$1.06 billion in the three months ended September 30, helped by higher revenue from its lending, wealth management and life-insurance businesses.
  • Net interest income rose 12 percent to S$1.38 billion, as lending grew and its net interest margin rose by four basis points in the third quarter.
  • OCBC's nonperforming assets rose 15 percent to S$2.98 billion in the quarter from a year earlier.
  • Shares of OCBC have rallied 29 percent this year, the most among the three major Singapore banks.
  • OCBC is the first of Singapore's three large banks to report third-quarter results. United Overseas Bank is scheduled to report quarterly earnings on November 3, and DBS Group Holdings will post its results on November 6.

OCBC bank Q4 profits
People pass an Oversea-Chinese Banking Corporation (OCBC) bank automated teller machine in Singapore January 5, 201

Singapore's second-largest lender Oversea-Chinese Banking Corp on Thursday reported a better-than-expected quarterly profit.

Here are five highlights of the results:

  • Net profit rose 12 percent to S$1.06 billion in the three months ended September 30, helped by higher revenue from its lending, wealth management and life-insurance businesses.
  • Net interest income rose 12 percent to S$1.38 billion, as lending grew and its net interest margin rose by four basis points in the third quarter.
  • OCBC's nonperforming assets rose 15 percent to S$2.98 billion in the quarter from a year earlier.
  • Shares of OCBC have rallied 29 percent this year, the most among the three major Singapore banks.
  • OCBC is the first of Singapore's three large banks to report third-quarter results. United Overseas Bank is scheduled to report quarterly earnings on November 3, and DBS Group Holdings will post its results on November 6.

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