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OCBC beats expectations with 14% rise in Q1 profit to S$973m

Strong earnings helped by wealth management income's sustained growth and insurance operations

OCBC chief Samuel Tsien says the bank will maintain its cost-to-income ratio between 40 and 45 per cent.


OCBC Bank posted a 14 per cent year-on-year jump in first-quarter net profit due to more fee income and higher profits from its Indonesian businesses.

The last of the three local banks to report Q1 results, OCBC said net profit rose 14 per cent to S$973 million from...

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