OCBC Posts Biggest Quarterly Profit in Two Years on Trading
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Oversea-Chinese Banking Corp., Southeast Asia’s second-biggest lender, reported its largest quarterly profit in almost two years on higher trading income and loan growth.
Net income climbed 54 percent to S$921 million ($739 million) for the three months ended June 30 from S$597 million a year earlier, the Singapore-based bank said in a statement to the stock exchange today. That beat the S$801 million average of five analysts’ estimates compiled by Bloomberg.