ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • AMC Sector: Growth-oriented funds lead the strong inflows in sector, says BK Securities – check key triggers
  • Q1FY23 Preview: Pharmaceutical firms likely to deliver subdued performance in domestic market, says Nirmal Bang
  • Chemical sector may report growth in operating profit both sequentially and YoY in Q1FY23 – Check details here
  • Finance Ministry empanels 12 transaction advisers for assisting in implementation of Public Private Partnership projects
  • Stock market on Monday: Market may continue its volatile trade, believes Anil Singhvi - crude, rupee movement key monitorable
Read in App
Business News » World News

Singapore lender OCBC's fourth quarter profit falls 10 percent, cautions on economic growth

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App

Oversea-Chinese Banking Corp Ltd warned of slower economic growth after Singapore`s second-biggest listed lender missed market estimates with a 10 percent drop in quarterly profit, due to a weak performance in its insurance business.

Singapore banks are gearing up for tougher times after three years of strong loans growth as the city-state`s export-reliant economy slows, partly due to a trade war between China and the United States.

"Looking ahead, global economic growth is expected to slow on concerns of continued trade and geopolitical tensions, subdued market and investment sentiments and rising policy risks in the advanced economies," OCBC CEO Samuel Tsien said in a statement on Friday.

OCBC`s October-December net profit came in at S$926 million ($684 million), versus S$1.03 billion a year earlier and compared with the S$1.17 billion average estimate of four analysts, according to data from Refinitiv.

The results came days after top lender DBS Group Holdings Ltd posted an 8 percent rise in quarterly profit, in line with market expectations.

On Friday, United Overseas Bank, the smallest listed lender in the city-state, reported a 7 percent increase in quarterly profit to S$916 million.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
Updated: Fri, Feb 22, 2019
06:44 am
Reuters
RELATED NEWS
Crisil cuts FY23 GDP growth estimate to 7.3% Crisil cuts FY23 GDP growth estimate to 7.3%
US stocks see worst first half drop in over 50 years US stocks see worst first half drop in over 50 years
Rupee hits record low of 79.11 against US dollar in early trade Rupee hits record low of 79.11 against US dollar in early trade
Retail inflation for industrial workers rises to 6.97% in May Retail inflation for industrial workers rises to 6.97% in May
GST Council Meeting: Full details of goods and services, where rates hiked or slashed GST Council Meeting: Full details of goods and services, where rates hiked or slashed

LATEST NEWS

Q1FY23 Preview: Pharmaceutical firms likely to deliver subdued performance in domestic market, says Nirmal Bang -

YouTube's new tools to combat comment spam, account imitators

Gold Price Today: Investors with short term view must book profits now; import duty hike, rupee weakness may arrest price correction, temporarily

Finance Ministry empanels 12 transaction advisers for assisting in implementation of Public Private Partnership projects

AMC Sector: Growth-oriented funds lead the strong inflows, says BK Securities – check key triggers

Rakesh Jhunjhunwala Stocks: Agrochemical firm Rallis India shares may surge by 23% despite pressure on margins – Here’s why?

Chemical sector may report growth in operating profit both sequentially and YoY in Q1FY23 – Check details here

Cigarette makers shifted to biodegradable overwrap on packets, well ahead of plastic ban

Battery startup Log9 Materials showcases EVs for last-mile delivery at Green Vehicle Expo

Stock market on Monday: Market may continue its volatile trade, believes Anil Singhvi - crude, rupee movement key monitorable

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV