OCBC, Southeast Asia's second-largest lender, reported a 12% increase in Q4 2023 net profit to S$1.62bn.

OCBC, Southeast Asia's second-largest lender by assets, reported a 12% increase in net profit to S$1.62bn in Q4 of 2023, driven by higher operating profit and lower allowances. However, the figure fell short of the S$1.72bn estimate based on one analyst polled by Bloomberg. The bank's full-year earnings grew 27% to S$7.02bn, marking the first time its profits crossed the $7bn mark.

February 27, 2024
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