OCBC Bank’s net profit up 7 pct in H1 to reach new high

Overseas-Chinese Banking Corporation (OCBC Bank), parent company of Macau-based OCBC Wing Hang Bank, has reported a 7 per cent increase in its net profit for the first half of 2022. A press release issued by the Singaporean multinational banking group indicates that it secured a record half-year profit amounting to S$2.84 billion (MOP16.5 billion).

The group’s second quarter results posted a 28 per cent jump year-on-year and a 9 per cent surge from the first quarter of 2022.

OCBC Bank’s key markets are Singapore, Malaysia, Indonesia and Greater China. The Macau operations account for 5 per cent of the loans extended by the group in Greater China.