OCBC posts 5% on-year drop in Q1 net profit to S$1.88b
Singapore's second-largest bank OCBC posted a five per cent drop in net profit to S$1.88 billion for the first quarter of this year, its first on-year decline since 2022. With that, it wraps up the first-quarter earnings season for Singapore banks, with UOB reporting flat growth in net profit, while DBS logged a decline due to higher tax expenses. Alexandra Anand takes us through how they fared.
Singapore's second-largest bank OCBC posted a five per cent drop in net profit to S$1.88 billion for the first quarter of this year, its first on-year decline since 2022. With that, it wraps up the first-quarter earnings season for Singapore banks, with UOB reporting flat growth in net profit, while DBS logged a decline due to higher tax expenses. Alexandra Anand takes us through how they fared.
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