SINGAPORE - Singapore's OCBC has reported a 10% increase in its second-quarter net profit.
Oversea-Chinese Banking Corp (OCBC) said its net profit for the three
months ended June 30 was S$466 million, up from S$425 million a year
earlier.
The bank recorded S$104 million in allowances for loans and impairment
of other assets, up 88% from S$55 million a year ago, but down from
S$197 million in the first quarter.
Net interest income for the quarter was S$710 million, up 5% from
S$678 million, while non-interest income rose 37% to S$494 million.
"There is growing consensus that the worst is over for the global
economy and global financial markets, but the pace of recovery remains
uncertain," said CEO David Conner.
- CNA/ir
dividend?
They should raise their deposit interest rates then....