Singapore's OCBC H1 net profit rises 13% to record on wealth, insurance income growth

Oversea-Chinese Banking

06/08/2026 23:40

Overview
Singapore bank reported first half net profit up 13% yr/yr to S$4.19 bln
Net interest income declined 3% amid lower interest rates
Non-interest income surged 36% on strong fee, trading and insurance income

Outlook
OCBC remains committed to completing S$2.5 bln capital return by FY26
Bank guides to high-single-digit to low-double-digit loan growth for 2026
Cost-to-income ratio targeted at low 40% range for full year; credit costs guided at 20-25 basis points, above 1H26's 18 bps run rate

Result Drivers
NON-INTEREST INCOME SURGE - Co said record non-interest income, up 36%, offset decline in net interest income
WEALTH MANAGEMENT AND FEES - Strong wealth management activity and fee income drove non-interest income growth
TRADING AND INSURANCE INCOME - Higher trading and insurance income contributed to profit growth

Company press release: ID:nSN28R6g6

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Net Income
 
S$4.19 bln
 
H1 Net Interest Income
 
S$4.49 bln
 

Reuters Recommended Reads
Aug 6 - DBS shares scale record high as bank lifts forecast after profit beat
Aug 5 - Singapore's UOB to sell asset management business to Allianz unit for $434 million
Aug 4 - HSBC restarts buybacks after rates and wealth boost H1 profit

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)