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Singapore banks OCBC, UOB post profit jump on lower credit charges
Levin

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#1

03-11-2021, 09:41 AM
03 Nov 2021 07:36AM
(Updated: 03 Nov 2021 08:14AM)


SINGAPORE: Singapore's second- and third-largest lenders reported better-than-expected quarterly profit increases, building on a recovery from pandemic-hit markets and supported by lower provisions for credit losses.

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OCBC's net profit rose to S$1.22 billion in July to September from S$1.03 billion in the same period a year earlier and versus the S$936 million average of four analyst estimates compiled by Refinitiv.

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On Wednesday, United Overseas Bank (UOB) posted a 57 per cent rise in net profit to S$1.05 billion from S$668 million in the same period a year. This was ahead of the S$982.4 million average estimate of four analysts compiled by Refinitiv.


https://www.channelnewsasia.com/business...ks-2287471
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A2Z

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#2

03-11-2021, 10:20 AM
How come can make such huge profits? Is it gambling the forex market, bitcoin market, bond market? Our economy is so small no way can make such huge profits.
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debono

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#3

03-11-2021, 10:23 AM
(03-11-2021, 09:41 AM)Levin Wrote:  03 Nov 2021 07:36AM
(Updated: 03 Nov 2021 08:14AM)


SINGAPORE: Singapore's second- and third-largest lenders reported better-than-expected quarterly profit increases, building on a recovery from pandemic-hit markets and supported by lower provisions for credit losses.

......

OCBC's net profit rose to S$1.22 billion in July to September from S$1.03 billion in the same period a year earlier and versus the S$936 million average of four analyst estimates compiled by Refinitiv.

......

On Wednesday, United Overseas Bank (UOB) posted a 57 per cent rise in net profit to S$1.05 billion from S$668 million in the same period a year. This was ahead of the S$982.4 million average estimate of four analysts compiled by Refinitiv.


https://www.channelnewsasia.com/business...ks-2287471

This is a piece of good news, cos I am vested in some banks.... Clapping
(This post was last modified: 03-11-2021, 10:29 AM by debono.)
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winbig

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#4

03-11-2021, 10:24 AM
Price down despite the good news.
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lvlrsSTI

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#5

03-11-2021, 10:26 AM
(03-11-2021, 10:24 AM)winbig Wrote:  Price down despite the good news.

yesterday all went up and the news came one day late
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lvlrsSTI

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#6

03-11-2021, 10:27 AM
(03-11-2021, 10:23 AM)debono Wrote:  This a good piece of news, cos I am vested in some banks.... Clapping

OCBC didn’t move up much, never cross $12
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