OCBC's Q3 profit jumps 12% to record S$1.25b as repricing kicks in

Singapore

OCBC Bank has posted a 12 per cent jump in net profit to a record S$1.25 billion as it sold more loans at higher margins.

The bank will continue to enjoy higher margins in the current quarter, and into next year, said Samuel Tsien, OCBC chief executive, on Thursday at its Q3 results briefing. Loans too will expand next year, at mid-to high single digit, moderating from expected 10 per cent growth for 2018, he said.