OCBC says 2024 targets on track after Q3 profit beats forecast with 9% rise to $1.97 billion

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The Straits Times 1w ago

OCBC says 2024 targets on track after Q3 profit beats forecast with 9% rise to $1.97 billion - The Straits Times

Quick Summary:

OCBC’s results rounded up a strong third-quarter earnings season by Singapore banks.

OCBC’s improved performance was also driven by increased wealth management activity that lifted fee and trading income, in addition to higher insurance income and lower allowances.

OCBC said July-September net profit increased to $1.97 billion from $1.81 billion a year earlier.