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OCBC Profit Climbs as Higher Interest Rates Buoy Margins
Oversea-Chinese Banking Corp. reported a jump in second-quarter profit driven by an expansion in lending margins even as allowances for potentially soured assets more than tripled.Net income rose 34% to S$1.71 billion from a year earlier in the three months ended June 30, Southeast Asia’s second-largest lender said Friday. That compared with the S$1.74 billion average estimate of five analysts surveyed by Bloomberg.Chief Executive Officer Helen Wong said the bank is “watchful” of impacts from p
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