August 1, 2019 / 11:59 PM / 2 months ago

Singapore's OCBC reports steady Q2 profit, record net interest income

SINGAPORE, Aug 2 (Reuters) - Singapore’s Oversea-Chinese Banking Corp Ltd reported steady second-quarter profit, while its net interest income rose to a record, driven by growth in loans and margins.

The city-state’s second-biggest listed lender said on Friday that net profit came in at S$1.22 billion ($886 million) in the three months ended June, versus S$1.21 billion a year ago.

This compared with an average profit estimate of S$1.29 billion from two analysts, according to data from Refinitiv. OCBC said net interest income grew 10 percent to a new high of S$1.59 billion.

$1 = 1.3769 Singapore dollars Reporting by Anshuman Daga; Editing by Stephen Coates

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