Friday 29 Mar 2024
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SINGAPORE (Nov 1): Oversea-Chinese Banking Corporation (OCBC Bank) reported earnings of S$1.25 billion for 3Q18, an increase of 12% from a year ago, driven by a 23% rise in profit from banking operations.

This is slightly higher than the average estimate of S$1.15 billion from three analysts, according to data from Refinitiv, formerly known as Thomson Reuters. The higher 3Q18 bottomline also brings earnings for the first nine months of 2018 (9M18) to S$3.57 billion, an increase of 18% from a year ago.

Net interest income in the third quarter grew 9% to S$1.51 billion from S$1.38 billion a year ago, led by broad-based growth in customer loans of 10% and a 6-basis-point rise in net interest margin (NIM) to 1.72%. The increase in NIM was driven by improved margins in Singapore, Malaysia and Greater China, and a higher... (Click here to read the full story)

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