OCBC Bank's second-quarter earnings grew more than expected on strong growth in fee, trading and insurance income, as well as a decline in allowances.
Net profit for the second quarter rose 14 per cent to $1.94 billion, from $1.71 billion a year ago. The results blew past the $1.82 billion forecast from analysts polled by LSEG.
The board has declared an interim dividend of 44 cents per share, up 10 per cent from a year ago. This represents a payout ratio of 50 per cent of the earnings for the first half of 2024.
On OCBC's bid to acquire the rest of Great Eastern Holdings (GEH) and delist the insurer, group chief executive officer Helen Wong said the bank will continue to evaluate its options. It will do so over the three months from July 23, when the bank announced that minority shareholders who had not sold their shares to the bank could still do so under the terms of the offer.
OCBC's offer closed on July 12 with the bank holding 93.32 per cent of GEH's shares, not enough to trigger a compulsory acquisition. GEH has been suspended from trading since July 15, when the number of its shares in public hands fell below the 10 per cent free float threshold.
この記事は The Straits Times の August 03, 2024 版に掲載されています。
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この記事は The Straits Times の August 03, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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