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OCBC profit up 39% for Q1 to record S$1.9 billion

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Tan Nai Lun
Vivienne Tay

Tan Nai Lun &

Vivienne Tay

Published Wed, May 10, 2023 · 07:38 AM
    • The earnings beat the S$1.6 billion consensus forecast in a Bloomberg survey of five analysts.
    • The earnings beat the S$1.6 billion consensus forecast in a Bloomberg survey of five analysts. PHOTO: REUTERS

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    OCBC ’s net profit for its first quarter rose 39 per cent to S$1.9 billion, buoyed by strong net interest income growth.

    This was compared with S$1.4 billion for the year-ago period; the earnings also beat the S$1.6 billion consensus forecast in a Bloomberg survey of five analysts.

    At the bank’s earnings briefing on Wednesday (May 10), OCBC group chief executive Helen Wong noted that the record results came despite global volatility.

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