OCBC, which is also Southeast Asia’s second largest lender by assets, said October-December net profit rose to S$1.74 billion ($1.37 billion) from S$1.69 billion a year earlier.
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This beat the mean estimate of around S$1.69 billion from two analysts polled by LSEG.
($1 = 1.2667 Singapore dollars)
Reporting by Rae Wee and Yantoultra Ngui; Editing by Chris Reese
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Yantoultra Ngui is the Southeast Asia Deals Correspondent of Reuters in Singapore, covering M&A and capital market activities in a region that is fast emerging as one of the world’s biggest economies. He previously was a reporter at Bloomberg and The Wall Street Journal (WSJ). Notably, he was part of WSJ’s team that covered the financial scandal at Malaysian state fund 1MDB, and that won SOPA Excellence in Breaking News award for the coverage of the assassination of Kim Jong Nam, the half-brother of North Korea’s leader Kim Jong Un, in Malaysia in 2018. Yantoultra graduated with an MBA in Finance from Universiti Putra Malaysia (UPM) in 2010.
Singapore’s bank OCBC fourth-quarter net profit up 3% on-year, beat forecasts
