OCBC Quarterly Profit Up 32% on Loans, Trading Income
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Oversea-Chinese Banking Corp., Southeast Asia’s second-largest lender, posted a 32 percent increase in first-quarter profit on higher income from corporate borrowing, insurance, trading and investments.
Net income advanced to S$832 million ($664 million) from S$628 million a year earlier, OCBC said in a statement to the stock exchange today. That exceeded the average S$632 million of seven analysts’ estimates compiled by Bloomberg.