{"id":12369,"date":"2023-11-10T22:01:38","date_gmt":"2023-11-10T22:01:38","guid":{"rendered":"https:\/\/infundpros.com\/investment\/oversea-chinese-banking-3q-net-s1-81b-vs-net-s1-49b-o39-sg\/"},"modified":"2023-11-10T22:01:39","modified_gmt":"2023-11-10T22:01:39","slug":"oversea-chinese-banking-3q-net-s1-81b-vs-net-s1-49b-o39-sg","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=12369","title":{"rendered":"Oversea-Chinese Banking 3Q Net S$1.81B Vs. Net S$1.49B >O39.SG"},"content":{"rendered":"
\n

By P.R. Venkat<\/p>\n

<\/pre>\n
Oversea-Chinese Banking Corp.’s third-quarter profit rose sharply as the Singapore bank benefited from a rising interest-rate environment.<\/p>\n
Net profit rose 21% from a year earlier to 1.81 billion Singapore dollars (US$1.33 billion), OCBC said Friday.<\/p>\n
\n
Total income expanded 13% to S$3.43 billion, while net interest income rose 17% to S$2.46 billion.<\/p>\n
Non-net interest income came in at S$973 million, compared with S$932.0 million a year earlier.<\/p>\n
Allowances for loans and other assets during the quarter were S$184 million, up from S$154 million, mainly because of higher provisioning for impaired loans.<\/p>\n
The macroeconomic outlook is expected to be clouded by growing uncertainties from inflationary risks, tightening monetary policies and heightened geopolitical risks, the bank said.<\/p>\n
<\/pre>\n
Write to P.R. Venkat at venkat.pr@wsj.com<\/p>\n
<\/pre>\n
By P.R. Venkat<\/p>\n
<\/pre>\n
Oversea-Chinese Banking Corp.’s third-quarter profit rose sharply as the Singapore bank benefited from a rising interest-rate environment.<\/p>\n
Net profit rose 21% from a year earlier to 1.81 billion Singapore dollars (US$1.33 billion), OCBC said Friday.<\/p>\n
Total income expanded 13% to S$3.43 billion, while net interest income rose 17% to S$2.46 billion.<\/p>\n
Non-net interest income came in at S$973 million, compared with S$932.0 million a year earlier.<\/p>\n
Allowances for loans and other assets during the quarter were S$184 million, up from S$154 million, mainly because of higher provisioning for impaired loans.<\/p>\n
The macroeconomic outlook is expected to be clouded by growing uncertainties from inflationary risks, tightening monetary policies and heightened geopolitical risks, the bank said.<\/p>\n
<\/pre>\n
Write to P.R. Venkat at venkat.pr@wsj.com<\/p>\n
<\/pre>\n
By P.R. Venkat<\/p>\n
<\/pre>\n
Oversea-Chinese Banking Corp.’s third-quarter profit rose sharply as the Singapore bank benefited from a rising interest-rate environment.<\/p>\n
Net profit rose 21% from a year earlier to 1.81 billion Singapore dollars (US$1.33 billion), OCBC said Friday.<\/p>\n
Total income expanded 13% to S$3.43 billion, while net interest income rose 17% to S$2.46 billion.<\/p>\n
Non-net interest income came in at S$973 million, compared with S$932.0 million a year earlier.<\/p>\n
Allowances for loans and other assets during the quarter were S$184 million, up from S$154 million, mainly because of higher provisioning for impaired loans.<\/p>\n
The macroeconomic outlook is expected to be clouded by growing uncertainties from inflationary risks, tightening monetary policies and heightened geopolitical risks, the bank said.<\/p>\n
<\/pre>\n
Write to P.R. Venkat at venkat.pr@wsj.com<\/p>\n
<\/pre>\n<\/p><\/div>\n<\/div>\n
Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
By P.R. Venkat Oversea-Chinese Banking Corp.’s third-quarter profit rose sharply as the Singapore bank benefited from a rising interest-rate environment. Net profit…<\/p>\n","protected":false},"author":1,"featured_media":1200,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[],"class_list":{"0":"post-12369","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investment"},"yoast_head":"\nOversea-Chinese Banking 3Q Net S$1.81B Vs. Net S$1.49B >O39.SG | inFundPros<\/title>\n<meta name=\"description\" content=\"By P.R. 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