SINGAPORE: Oversea-Chinese Banking Corp (OCBC) shares rose to a record in Singapore trading as quarterly profit beat estimates and return on equity climbed to the highest in two years on gains in wealth management and lending income.
Second-quarter net income jumped 22% to S$1.08bil (US$796mil), South-East Asia’s second-largest lender said in a filing. Return on equity (ROE), a measure of profitability, rose to 11.9%, the highest since the June quarter of 2015.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
