Although OCBC’s net interest income was lower y-o-y and q-o-q, it managed to outstrip its net profit estimate of $1.88 billion by 1% because of growth in non-interest income.
Shareholders of Oversea-Chinese Banking Corporation (OCBC) who checked their bank accounts on May 9 would have received their 2HFY2024’s ordinary dividend of 41 cents and a capital return of 16 cents. Shareholders who topped up their OCBC shares by buying more when they fell temporarily after Liberation Day would also have received additional dividends and capital return as the ex-date was on April 25, and payment date on May 9.
The dividend payout would have offset the more sombre outlook during a results briefing on May 9 but there were some positives in the form of the group’s non-interest income.
