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OCBC's second-quarter net profit jumps 54% to $921m

Published on Aug 5, 2014 9:27 AM
 
OCBC Bank has posted a 54 per cent rise in its second-quarter net profit from the same period a year ago to $921 million. -- PHOTO: ST FILE

SINGAPORE - OCBC Bank has posted a 54 per cent rise in its second-quarter net profit from the same period a year ago to $921 million.

The record quarterly earnings were due to higher net interest income, strong non-interest income growth and gains in the market value of assets held by its insurance business, the bank said on Tuesday.

Net interest income climbed 17 per cent from a year ago to a new high of $1.13 billion in the second quarter, led by strong asset growth and an increased net interest margin.

Customer loans rose 12 per cent year-on-year to $177 billion, with broad-based growth across all key customers segments and geographies.

 
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