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OCBC's Quarterly Net Profit Gains 12% on Lending, Wealth, Insurance

  • First Singapore bank to post third-quarter earnings results
  • CEO warns of geopolitical and oil risks despite income growth
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Photographer: Nicky Loh/Bloomberg
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Oversea-Chinese Banking Corp., Southeast Asia’s second-largest lender, reported higher third-quarter profit on increased revenue from its lending, wealth management and life-insurance businesses.

Net income rose 12 percent to S$1.06 billion ($780 million) in the three months ended Sept. 30, the Singaporean bank said in a filing on Thursday. That compares with the S$1.01 billion average forecast in a Bloomberg survey of seven analysts.