During the six-month period, the bank’s net interest income (NII) fell by 5% y-o-y to $4.63 billion against the backdrop of declining Singapore dollar (SGD) and Hong Kong dollar (HKD) benchmark rates; the impact of lower net interest margins (NIMs) more than offset volume growth.
Oversea-Chinese Banking Corporation (OCBC) may have seen a “resilient” set of results for the 1HFY2025 ended June 30, thanks to its diversified earnings and strong non-interest income that cushioned the impact of declining rates. Yet, the bank is expecting the second half of the year to be “more challenging”, says group CEO Helen Wong.
On Aug 1, the bank reported 1HFY2025 net profits of $3.7 billion, 6% lower y-o-y. Net profits for the 2QFY2025 fell by 7% y-o-y and 4% q-o-q to $1.82 billion but still remained above the consensus’ target by 3%.
