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OCBC surprises with 5% rise in net profit after tax for Q3

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Published Thu, Oct 27, 2016 · 09:50 PM

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    OCBC

    Singapore

    OCBC Bank on Thursday reported an unexpected rise in net profit after tax for the third quarter - up 5 per cent to S$943 million - boosted by higher wealth-management fees and increased earnings from insurance.

    Analysts polled by Bloomberg and Reuters had expected the bank - the first of the three local ones to post its Q3 results - to report a second straight quarterly decline in profit on the back of bad loans.

    OCBC

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