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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

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    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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