OCBC 3Q Net Edges Up on Lower Provisioning
By Amanda Lee and P.R. Venkat
Oversea-Chinese Banking posted a rise in third-quarter net profit, supported by higher net interest income and fees and lower provisions for bad loans.
Net profit for the three-months ended September was 2.04 billion Singapore dollars, equivalent to US$1.60 billion, up 3% from a year ago, Singapore's second-largest lender said Friday.
Total income dropped 2% to S$3.73 billion.
Net interest income--the difference between what banks earn on loans and pay on deposits--rose 4% to S$2.31 billion. Net interest margin fell 18 basis points to 1.66% due to lower interest rates.
Noninterest income dropped 10% to S$1.42 billion, mainly due to weaker investment performance at its insurance unit Great Eastern Holdings.
Total allowances were S$52 million, down 63% from a year ago.
"Looking ahead, global conditions remain uncertain amid geopolitical tensions and elevated inflation risks," Chief Executive Tan Teck Long said.
Write to Amanda Lee at amanda.lee@wsj.com and P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
November 05, 2026 18:34 ET (23:34 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
4 Growth Stocks to Buy While They’re Still Undervalued
The 10 Best Companies to Invest in Now
Your Year-End Financial Checklist: 5 Things to Tackle Before 2027
These Overvalued Stocks Have Plenty of Room to Fall
United States