OCBC Boosts Quarterly Profit on Non-Interest Income Gains

Oversea-Chinese Banking Corp., Southeast Asia’s second-largest lender, posted a 12 percent gain in fourth-quarter profit as higher income from wealth management and insurance offset narrowed lending margin.

Net income rose to S$663 million ($537 million) from S$594 million a year earlier, the Singapore-based bank said in a statement to the stock exchange today. That exceeded the S$624 million average of 10 analysts’ estimates compiled by Bloomberg.