Oversea-Chinese Banking Corporation Limited Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016
October 26, 2016
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Oversea-Chinese Banking Corporation Limited reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported interest income of SGD 2,094 million compared to SGD 2,130 million a year ago. Net interest income was SGD 1,234 million compared to SGD 1,317 million a year ago. Operating profit before allowances and amortization was SGD 1,251 million compared to SGD 1,192 million a year ago. Profit before income tax was SGD 1,617 million compared to SGD 1,116 million a year ago. Profit attributable to equity holders of the bank was SGD 943 million or 22.3 cents per diluted share compared to SGD 902 million or 22.2 cents per diluted share a year ago. Net cash from operating activities was SGD 2,250 million compared to SGD 9,435 million a year ago. Purchases of property, plant and equipment and investment property were SGD 94 million compared to SGD 64 million a year ago. Return on equity was 11.1% compared to 11.5% a year ago. Return on assets was 1.15% compared to 1.06% a year ago. Total income was SGD 2,204 million compared to SGD 2,092 million a year ago. Net profit was SGD 943 million compared to SGD 902 million a year ago.
For the nine months, the company reported interest income of SGD 6,309 million compared to SGD 6,343 million a year ago. Net interest income was SGD 3,801 million compared to SGD 3,848 million a year ago. Operating profit before allowances and amortization was SGD 3,505 million compared to SGD 3,730 million a year ago. Profit before income tax was SGD 3,326 million compared to SGD 3,652 million a year ago. Profit attributable to equity holders of the bank was SGD 2,684 million or 63.8 cents per diluted share compared to SGD 2,943 million or 72.6 cents per diluted share a year ago. Net cash used in operating activities was SGD 1,161 million compared to net cash from operating activities of SGD 4,596 million a year ago. Purchases of property, plant and equipment and investment property were SGD 279 million compared to SGD 198 million a year ago. Return on equity was 10.8% compared to 12.9% a year ago. Return on assets was 1.10% compared to 1.17% a year ago. Total income was SGD 6,312 million compared to SGD 6,421 million a year ago. Net profit was SGD 2,684 million compared to SGD 2,943 million a year ago.
Oversea-Chinese Banking Corporation Limited (the Bank) is engaged in the business of banking, life insurance, general insurance, asset management, investment holding, futures and stockbroking. Its segments include Global Consumer/Private Banking, Global Wholesale Banking, Global Treasury and Markets, Insurance, and Others. The Global Consumer/Private Banking segment provides a range of deposit products, consumer loans, credit cards, wealth management products and brokerage services. The Global Wholesale Banking segment offers financing solutions, including long-term project financing, short-term credit, working capital and trade financing. The Global Treasury and Markets segment engages in foreign exchange activities, money market operations, fixed income, and derivatives trading, and offers structured treasury products and financial solutions. The Insurance segment provides both life and general insurance products to its customers, mainly in Singapore and Malaysia.
Oversea-Chinese Banking Corporation Limited Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016