OCBC zips ahead of Q2 profit expectations
STRONG banking operations combined with continued cost control and a contribution boost from its insurance arm brought Oversea-Chinese Banking Corporation (OCBC) record quarterly earnings.
OCBC, the last of the three Singapore banking groups to post its financial results for the April-June quarter, posted a net profit of S$921 million, up 54 per cent from the year-ago quarter's S$597 million and beating analysts' estimate of S$803.8 million based on a Bloomberg poll.
The Q2 net profit translated to annualised earnings per share of S$1.057, compared with 67.2 Singapore cents a year ago.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
S&P slashes Boeing credit outlook as rating hovers above junk status
Honda to spend US$11 billion on EV strategy in Canada
GlaxoSmithKline sues Pfizer and BioNTech over Covid-19 vaccine technology
Mapletree Industrial Trust Q4 DPU rises 0.9% to S$0.0336
Nasdaq’s profit falls as shaky economy keeps IPO revival elusive
iFast Q1 net profit surges on ePension unit performance