OCBC posts 3 per cent rise in third-quarter profit, lifts guidance
Wealth management and wholesale banking supported earnings, while weaker investment performance at Great Eastern weighed on non-interest income.
Singapore’s OCBC reported quarterly net profit of S$2.04 billion on Nov 6, up 3 per cent from a year earlier, and upgraded its financial guidance for 2026. The bank attributed the earnings growth to its wealth management and wholesale banking operations, despite a smaller profit contribution from insurer Great Eastern.
Profit for the quarter ending Sept 30, 2026 exceeded the S$2 billion forecast from seven analysts surveyed by Bloomberg. A year earlier, OCBC earned S$1.98 billion.
Quarterly net interest income reached S$2.31 billion, a 4 per cent increase. OCBC said higher average assets, including customer loans and high-quality non-commercial assets, supported the gain. Its net interest margin narrowed to 1.66 per cent, an 18-basis-point decline from 1.84 per cent, against a lower interest rate backdrop.
Non-interest income totalled S$1.42 billion, falling 10 per cent as Great Eastern’s investment performance weakened. The ratio of non-performing loans improved to 0.8 per cent; the year-earlier figure was 0.9 per cent.
For 2026, OCBC now forecasts loan growth in the low double digits, replacing its earlier high-single-digit to low-double-digit range. It expects total income growth of at least a mid-single-digit percentage, with net interest income flat or slightly lower.
The bank also lowered its expected credit-cost range to 15–20 basis points from 25–30 basis points. Previously, its outlook for net interest income had been for a slight decline.
