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OCBC’s Helen Wong sees growth driver in wealth flows as Q3 fee income rebounds

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Yong Hui Ting
Vivienne Tay

Yong Hui Ting &

Vivienne Tay

Published Fri, Nov 10, 2023 · 03:45 PM
    • Like most banks, OCBC’s net interest margin (NIM) also benefited from rising interest rates, going up by 21 basis points from a year ago to 2.27 per cent in the third quarter ended September.
    • Like most banks, OCBC’s net interest margin (NIM) also benefited from rising interest rates, going up by 21 basis points from a year ago to 2.27 per cent in the third quarter ended September. BT PHOTO: YEN MENG JIIN

    OCBC’S chief executive Helen Wong expressed optimism that wealth flows will continue to drive the bank’s business growth, as the lender on Friday (Nov 10) held its third-quarter earnings briefing.

    It also reported that its fee income for the quarter was S$461 million – the highest in the last four quarters, although it was still lower than in 2021. The bank attributed this to higher wealth management, credit card and trade-related fees.

    “But I wouldn’t paint too rosy a picture,” said Wong, noting that investors were still on the fence about taking on more wealth-management activities.

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