Loans grew by 9% y-o-y to $374 billion, and deposits rose 10% y-o-y to $444 billion. Q-o-q, net interest income of $2.22 billion fell 3% largely due to lower benchmark rates for SGD, HKD and USD, and the effect of a comparatively shorter quarter. On a day-adjusted basis, net interest income was a notch lower by 1%.
Oversea-Chinese Banking Corp’s (OCBC) 1QFY2026 net profit of $1.974 billion came in around 5% above Bloomberg’s consensus estimate of $1.878 billion, up 13% q-o-q and 5% y-o-y.
The net profit growth, if sustained in 2QFY2026, will translate to higher dividends in the first half, hopefully. OCBC’s was the best beat, followed by United Overseas Bank, with DBS coming up in the rear.
