OCBC reports worst quarterly profit of the year on one-off charge

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SINGAPORE: Oversea-Chinese Banking Corp (OCBC), Singapore's second-biggest listed bank, reported on Tuesday (Nov 5) its worst quarterly profit ...

SINGAPORE: Oversea-Chinese Banking Corp , Singapore's second-biggest listed bank, reported on Tuesday its worst quarterly profit this year after booking a one-off charge at its Indonesian banking unit.

However, excluding the one-off charge related to changes in its expected credit loss modelling at the Indonesian unit, OCBC's core net profit was S$1.26 billion, slightly higher than S$1.25 billion a year earlier.

 

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