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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

    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.

    OCBCFinancial resultsSingapore banks

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