Singapore: Oversea – Chinese Banking Corp ( OCB ) posted a 34 % increase in second-quarter net profit on Friday( Aug 4 ) that was in line with expectations, primarily driven by better income growth and partially offset by higher allowances.
OCBC, which is also the second-largest provider by goods in Southeast Asia, reported that its gross income from April to June increased from S$ 1.28 billion to S$ 1.71 billion.
This contrasts with four researchers polled by Refinitiv’s median measure of S$ 1.76 billion in profit.