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OCBC’s Q2 profit beats forecasts, rises 28% to $1.48 billion

This News Publish on Youtube, entitled “OCBC’s Q2 profit beats forecasts, rises 28% to $1.48 billion” here is their detail.

And while ocbc's net profit for its second quarter rose 28 to 1.48 billion dollars their stronger than expected earnings was driven by robust performance across its banking wealth management and insurance businesses now ocbc's net interest income rose 16 onya to a record 1.7 billion dollars now this was largely driven by asset growth and.

An expansion in the bank's margin on net interest margin and indicative profitability climbed 13 basis points to 1.71 it is the highest in two years as asset yields outpaced higher funding costs amid a rising interest rate environment ocbc declared an interim dividend of 28 cents per share up from 25 cents last.

Year well group ceo helen wong says the bank's resilient performance demonstrated the strength of its diversified franchise but headwinds remain we stay cautious on near-term headwinds in our operating environment i think i cannot miss out the russian ukraine war worsening streams in the.

Global supply chain and this also heats up inflationary pressures with negative consequences on the overall global economy monetary tightening induced recession risks also rising in key developed markets with the hike in the fed rates that we've seen.

Over the last months is particularly the most recent one the chances of an economic slowdown or a recession could rise and that could have a negative impact on the health of the bank's earnings forecast as well as the overall economy so that's certainly a macro risk that people need to watch out.

For well dbs will be reporting its financial results tomorrow rounding out bank earnings here in singapore

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