Business · Companies · 2 hrs ago
OCBC third-quarter profit rises 3% and beats forecasts
Singapore bank OCBC's third-quarter net profit rose 3% to S$2.04 billion from a year earlier.
The result was slightly above analysts' average forecast of S$2.01 billion.
Growth in customer loans helped lift net interest income, but a fall in the bank's net interest margin weighed on performance.
Weaker investment results at insurer Great Eastern contributed to declines in OCBC's trading and insurance income.
Excluding Great Eastern, banking wealth management income rose 2% to a record S$1.12 billion, reflecting continued demand for wealth services in Asia.
OCBC raised its 2026 loan growth forecast to low double digits, while expecting total income to grow by at least a mid-single-digit percentage this year.
The bank said it is monitoring conflict in the Middle East, energy markets and conditions in Indonesia.
OCBC’s third-quarter net profit rose 3 per cent from a year earlier to S$2.04 billion, beating analysts’ estimates.
The bank raised its 2026 loan growth forecast to low double digits.
Higher net interest income, supported by growth in customer loans and high-quality non-commercial assets, helped lift profit.
Weaker trading and insurance income, largely linked to Great Eastern Holdings’ investment performance, weighed on results.
- Who
- Oversea-Chinese Banking Corp (OCBC), Singapore’s second-largest bank.
- What
- Third-quarter net profit rose 3 per cent year on year to S$2.04 billion, above the mean analyst estimate of S$2.01 billion.
- When
- The results were reported on Friday, Nov 6, 2026, for the July-September quarter.
- Where
- Singapore.
- Why
- Growth in net interest income helped raise profit, while weaker trading and insurance income weighed on it.
This story does not have two clearly opposing sides.
OCBC’s net profit rose to S$2.04 billion from S$1.98 billion a year earlier.
OCBC reported its third-quarter results and raised its 2026 loan growth forecast to low double digits.
- Third-quarter net profit
- S$2.04 billion
- Year-on-year profit growth
- 3 per cent
- Mean analyst estimate
- S$2.01 billion
- 2026 loan growth forecast
- Low double digits