Assets grew by 3% and the group deployed liquidity into high-quality assets (HQLA), which were income-accretive but lower yielding.
Oversea-Chinese Banking Corp’s 1QFY2025 net profit of $1.88 billion fell 5% y-o-y but rose 12% q-o-q and met the Street’s estimate of $1.86 billion. Earnings were boosted by Great Eastern Holdings (SGX:G07
) , trading income and fees.
Net interest income for 1QFY2025 was 4% lower q-o-q at $2.35 billion due to lower net interest margin (NIM) which contracted by 11 basis points (bps) to 2.04%, as loan yields tightened at a faster pace than deposit costs.
