SINGAPORE: Singapore's second- and third-largest lenders reported better-than-expected quarterly profit increases, building on a recovery from pandemic-hit markets and supported by lower provisions for credit losses.
OCBC's net profit rose to S$1.22 billion in July to September from S$1.03 billion in the same period a year earlier and versus the S$936 million average of four analyst estimates compiled by Refinitiv. Globally, banks have rolled back credit impairment charges taken last year and are benefiting from improved economic activities.
Source: News Formal (newsformal.com)
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