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via finance.yahoo.comBusiness & Companies

OCBC Q3 profit rises 3% on lending strength

FROM THE WIRE · FINANCE.YAHOO.COM

Investing.com-- Oversea-Chinese Banking Corp (SGX:OCBC) on Friday clocked a 3% rise in its third-quarter net profit as expected, as steady interest income growth helped offset slimmer margins and rising funding costs. Still guessing which stocks will beat the market? Our AI…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: neutralResults in line with expectations, with net interest income growth offset by lower fee income.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Q3 net profit rose 3% to S$2.04 billion, slightly above Bloomberg estimates of S$2.0 billion.
  2. 02Net interest income grew 4% to S$2.31 billion, while non-interest income fell 10%.
  3. 03Higher funding costs partly offset growth in interest income.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
OCBC.SIOCBC.SIStock—n/aNeutral
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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