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OCBC Q3 2024 results driven by customer growth and net new money inflow: CEO Helen Wong

She notes that the bank is seeing the outcome of its investment in people, products and capabilities to serve customers

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Chong Xin Wei
Benjamin Cher

Chong Xin Wei &

Benjamin Cher

Published Fri, Nov 8, 2024 · 03:54 PM
    • Growing out deposits in current accounts saving accounts , along with new accounts are key pillars of OCBC's growth plans.
    • Growing out deposits in current accounts saving accounts , along with new accounts are key pillars of OCBC's growth plans. PHOTO: REUTERS

    THE growth OCBC has seen in the third quarter ended September has been customer driven, said CEO Helen Wong, as growth plans and initiatives have paid off for the bank across geographies.

    “I feel the growth is very much customer driven, which is good because this will be a longer-term growth for OCBC,” said Wong in an earnings briefing on Friday (Nov 8).

    Higher than expected

    OCBC’s net profit for the third quarter ended September rose 9 per cent to S$1.97 billion, from S$1.81 billion in the previous corresponding period, beating the S$1.9 billion Bloomberg consensus.

    OCBC

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