Net interest income of S$912 million declined 4% from S$951 million a year ago, as revenue from asset growth was offset by the impact of lower net interest margin.
OCBC’s fee and commission income rose 15% to S $316 million, from S $274 million a year ago, boosted by growth in wealth management, loan-related and fund management income.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Operating expenses rose 8% to S$672 million, from S$625 million a year ago, due to 7% growth in staff as the bank builds up its presence in the region, including its wealth-management arm.
Private banking assets under management rose to S$55 billion from S$44 billion a year earlier. Revenue from wealth management now makes up one-third of total revenue, OCBC said.
OCBC CEO, Samuel Tsien, said: "With our solid capital and stable funding base, we will devote additional resources to strengthen the Group’s regional franchise to tap on the higher economic growth potential in our key overseas markets."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
