Assets under management at Bank of Singapore,
the private banking business of OCBC Group, soared by 20%
year-on-year to SGD$45bn ($36bn) in the first half of 2012.
Revenues in OCBC’s wealth management
activities received an 18% year-on-year boost to reach SGD$860m as
of 30 June 2012, while the contribution of wealth management
revenues to OCBC’s overall revenues remained at 26%
year-on-year.
Go deeper with GlobalData
During the first half of 2012, operating
profits in OCBC’s global consumer/private banking unit totalled
SGD$284m, a 12% year-on-year increase from the first half of
2011.
This growth reflects increases in net interest
income and fee income, although these were offset by higher
expenses and allowances, the bank said.
Rising reputation
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataOperating profits totalled SGD$130m in the
second quarter of 2012, a year-on-year increase of 11%, or SGD$13m,
from the second quarter of 2011. These have been attributed to
broad-based revenue growth.
However, these are down 16% or SGD$24m from
the first quarter of 2012.
Bank of Singapore was awarded PBI’s
“Outstanding Private Bank in South-East Asia” award in 2011.
