- OCBC (SGX:O39) reported net profit of S$1,978m for 3Q25 (flat y-o-y and +9% q-o-q), above our forecast of S$1,808m.
Succumbed to inevitable NIM compression.
- - Read this at SGinvestors.io -
- The quarter saw a huge influx of deposits (+11% y-o-y), thus the loan-to-deposit ratio eased 3ppt y-o-y to 78.6%. Net interest income declined 9% y-o-y.
Broad-based growth in fee income led by wealth management.
- Fees grew 34% y-o-y and 18% q-o-q in 3Q25. Contribution from wealth management surged 53% y-o-y driven by broad-based growth across all channels as customers deployed funds to various asset classes.
- - Read this at SGinvestors.io -
Strong growth in non-interest income.
- Contributions from life and general insurance grew 34% y-o-y to S$311m in 3Q25 due to improved investment performance from its insurance funds.
- Net trading income expanded 2% y-o-y to S$518m in 3Q25. Customer flow treasury income grew 22% y-o-y.
Discipline cost containment.
- Read more at SGinvestors.io.
