OCBC Bank Earnings Up In Q3

(RTTNews) - Oversea-Chinese Banking Corp. Ltd. (OVCHY, OVCHF, O39.SI), on Friday, reported its net profit increased in the third quarter compared with the previous year.

For the third quarter, net profit increased to S$1.98 billion from S$1.97 billion in the prior year.

Earnings per share were S$1.72 versus S$1.73 last year.

On average, three analysts had expected the company to report $0.39 per share. Analysts' estimates typically exclude special items.

Net interest income decreased 9 percent to S$2.23 billion from S$2.43 billion in the previous year.

Non-interest income increased 15 percent to S$1.57 billion from S$1.37 billion in the prior year.

Oversea-Chinese Banking is 2.79% higher at SGD 17.66 on the Stock Exchange of Singapore.