in

Singapore’s OCBC second-quarter profit rises 59%, above estimates Reuters via biedexmarkets.com


© Reuters. People pass by an OCBC bank branch in Singapore November 4, 2020. REUTERS/Edgar Su/Files

SINGAPORE (Reuters) – Singapore’s second-biggest lender Oversea-Chinese Banking Corp Ltd (OCBC) reported a 59% jump in April-June net profit on Wednesday, supported by recovery in its core markets.

The bank posted a profit of S$1.16 billion ($858.75 million)in the second quarter, from S$730 million a year earlier. That compared with the S$1.12 billion average of four analyst estimates, according to Refinitiv data.

($1 = 1.3508 Singapore dollars)