SINGAPORE: Singapore’s second- largest bank Oversea- Chinese Banking Corp ( OCBC ) reported on Friday ( May 10 ) a 5 per cent rise in net profit to a record high in the first quarter from a year earlier, driven by stronger operating profit.
OCBC, which is also Southeast Asia’s number two lender, said January to March net profit climbed to S$ 1.98 billion ( US$ 1.46 billion ) from S$ 1.88 billion a year earlier.
That beat the indicate measure of S$ 1.77 billion, or a 5.9 per share on- time drop, from four researchers polled by LSEG.