OCBC Q2 net profit up 54 pct, beats expectations

SINGAPORE Mon Aug 4, 2014 7:14pm EDT

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SINGAPORE Aug 5 (Reuters) - Oversea-Chinese Banking Corp , Singapore's second-biggest lender, posted a 54 percent rise in quarterly profit on Tuesday, beating expectations thanks to brisk loan growth and a strong performance from its insurance unit.

OCBC earned S$921 million ($739 million) in the three months ending in June, compared with S$597 million a year earlier. The profit was above the S$796 million average forecast of six analysts polled by Reuters. (1 US dollar = 1.2460 Singapore dollar) (Reporting by Saeed Azhar; Editing by Stephen Coates)