OCBC reports record nine-month profit despite quarterly dip

Oversea-Chinese Banking Corporation (OCBC) reported a record net profit of $6.24 billion for the first nine months of 2026, representing a 10% increase year on year. This growth was driven by strong performance in wealth management and wholesale banking operations under the bank’s Next Frontier Strategy.

However, third-quarter net profit of $2.04 billion, while up 3% year on year, fell 8% compared to the previous quarter. The quarterly decline was attributed to weaker investment performance from its insurance arm, Great Eastern Holdings (GEH), and a drop in non-interest income.

Net Interest Income rose 4% year on year to $2.31 billion, supported by loan growth, though higher funding costs partially offset these gains. Customer loans rose 14% year on year to $372 billion, while deposits increased 12% to $461 billion. CEO Tan Teck Long maintained the bank’s financial guidance, citing a strong capital and liquidity position to navigate geopolitical and inflation risks.