Net interest income (NII) of $1.27 billion for the quarter was 3% lower as compared to $1.31 billion a year ago, as higher asset growth was offset by net interest margin compression.
SINGAPORE (May 9): Oversea-Chinese Banking Corporation (OCBC) has posted a net profit after tax of $973 million for 1Q17, 14% above $856 million in 1Q16.
This was largely due to sustained growth in wealth management income, higher profit from insurance operations as well as increased earnings in local currency terms from all of the group’s overseas banking subsidiaries, particularly from Indonesia, says the bank in a Tuesday releas.
