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OCBC expects 2% dip in 2020 revenue growth on virus impact; ups dividend on higher Q4 profit

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OCBC Bank’s net profit grew 34 per cent to S$1.24 billion for its fourth quarter, from S$926 million a year ago, driven mainly by wealth management, higher income from trading, sale of investment securities and properties, and its insurance franchise.

OCBC Bank on Friday upped its dividend payout as profits beat estimates for its fourth quarter, although it flagged a weaker-than-expected outlook for the global economy ahead.

In a media briefing on Friday, chief executive officer Samuel Tsien said he expects a 2 per cent dip in revenue...

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