August 5, 2018 / 11:50 PM / 2 months ago

Singapore lender OCBC Q2 profit rises 16 pct

SINGAPORE, Aug 6 (Reuters) - Singapore’s Oversea-Chinese Banking Corp Ltd posted a 16 percent rise in quarterly profit on Monday, while net interest income rose 8 percent.

The city-state’s second-biggest listed lender’s net profit came in at S$1.21 billion ($885 million) in the three months ended June 30 versus S$1.04 billion a year ago, and above one analyst’s estimate of S$1.19 billion.

OCBC is the last Singapore-listed bank to report results. The biggest bank, DBS Group Holdings, reported net profit below market estimates, while the smallest lender, United Overseas Bank, beat estimates. ($1 = 1.3670 Singapore dollars) (Reporting by Anshuman Daga; Editing by Stephen Coates)

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