$OCBC Bank(O39.SG)🚀OCBC Q3: Solid Core Results Amid Market Volatility OCBC reported a steady Q3 net profit of S$2.04 bi…
$OCBC Bank(O39.SG)
🚀OCBC Q3: Solid Core Results Amid Market Volatility
OCBC reported a steady Q3 net profit of S$2.04 billion, up 3% from a year ago. This result slightly beat consensus estimates. OCBC was also the only local bank to meet market expectations this quarter.
Here is the key areas that performed:
🔹 Strong Lending Growth
Net Interest Income rose 4% year-on-year to S$2.31 billion. Growth came from higher customer loans and average assets.
🔹 Great Eastern Weighs on Income
Non-interest income fell 10% year-on-year to S$1.42 billion. The main reason was weaker investment results and mark-to-market losses in Great Eastern Holdings’ bond portfolio, driven by changing interest rates.
🔹 Healthy Asset Quality
Loan quality continued to improve. The Non-Performing Loan ratio dropped to 0.8%, down from 0.9% a year earlier.
📈 See the full visual breakdown of OCBC’s Q3 results in the infographic.
Disclaimer: For information only, not financial and investment advice. Do your own due diligence ☺️.
Source : OCBC website
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