Great Eastern's Q3 net profit falls 26%

Singapore

GREAT Eastern Holdings (GE), the insurance arm of OCBC Bank, turned in a net profit of S$213.3 million for its third fiscal quarter, down 26 per cent from S$287.5 million in the year-ago period.

Mainboard-listed GE said the fall was due to lower operating profit and non-operating profit from its insurance business, but this was amelio-rated by higher profit from the shareholder's fund.