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The Latest Breaking News from OCBC

Global Market: Singapore's OCBC, UOB Q2 profits rise as wealth business cushions impact of lower interest rates

Singapore's OCBC and UOB banks have exceeded expectations with their second-quarter earnings, showcasing resilience amid lending income challenges. OCBC achieved a record quarterly net profit, while UOB surpassed analyst forecasts. The first half saw substantial growth in wealth management income, prompting both banks to declare higher interim dividends for their…

The Economic Times

Inflation and Interest Rates' Outlook Ceded After U.S.-Iran Ceasefire. It Is Going Up Again As it Resumes

Inflation and Interest Rates' Outlook Ceded After U.S.-Iran Ceasefire. It Is Going Up Again As it Resumes

Investment giant BlackRock estimated that the conflict with Iran is expected to increase global headline inflation by approximately 0.8 percentage points.

International Business Times

Dollar near two-week lows as rate-hike bets recede, embattled yen in focus

Dollar near two-week lows as rate-hike bets recede, embattled yen in focus

The US dollar dipped to a two-week low as markets scaled back expectations of a Federal Reserve rate hike. Meanwhile, the Japanese yen remains near a 40-year trough, fueling speculation about potential government intervention. While the euro and sterling saw modest gains, traders are closely watching for any moves from…

The Economic Times

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OCBC rolls out its 'avatar banking' platform with 'Wendy' and 'Wayne,' two virtual financial advisors, as banks integrate AI into wealth management

Still, new CEO Tan Teck Long promised to hire 600 new relationship managers, as wealth management becomes a growing business for the Singaporean bank.

India bonds slip ahead of RBI policy as war risks lift oil

The Reserve Bank of India will announce its rate decision on Friday, with markets largely pricing in a pause even ‌as Standard Chartered, ⁠Capital Economics, ⁠ANZ, MUFG and OCBC call for a 25-basis-point hike.

The Economic Times

DBS rolls out Gen AI chatbot, as Southeast Asia’s largest bank incorporates AI in its workflow

The bank currently uses AI to handle tasks like fraud detection, algorithmic credit-scoring and employee training.

Southeast Asia’s three largest banks warn of macroeconomic headwinds following a mixed quarter

DBS’s quarterly profit grew by 1%, yet the bank acknowledged “external uncertainties.” Profits at fellow banks UOB and OCBC fell.

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OCBC’s next CEO shows the Singaporean bank is still betting on ASEAN-China ties for growth

OCBC’s next CEO shows the Singaporean bank is still betting on ASEAN-China ties for growth

OCBC’s CEO-to-be comes with a wealth of China experience, including a five-year stint leading DBS’s institutional banking business in China.

“I love the topic AI” the CEO of OCBC thinks the tech will create more jobs

“I love the topic AI” the CEO of OCBC thinks the tech will create more jobs

As part of its earnings report, OCBC revealed that it will return 2.5 billion Singapore dollars to shareholders over two years through dividends and buybacks.

Singapore’s UOB is betting on Southeast Asia for growth after posting record profit

Singapore’s UOB is betting on Southeast Asia for growth after posting record profit

The bank’s CEO, Wee Ee Cheong, said an enlarged customer base and enhanced platforms in the region position UOB well.

Singapore’s Straits Times Index is Southeast Asia’s best performing index for 2024—and it's all due to its Big Three banks

Singapore’s Straits Times Index is Southeast Asia’s best performing index for 2024—and it's all due to its Big Three banks

A share rally in Singapore's biggest banks—DBS, UOB and OCBC—lifted the Straits Times Index to end the year above Malayis'a Kuala Lumpur Composite Index.

Trump's victory could make life harder for Hong Kong—and that may be good news for Singapore's banks

Trump's victory could make life harder for Hong Kong—and that may be good news for Singapore's banks

Banks like Singapore's OCBC are poised to gain from Chinese investment into Southeast Asia—now potentially supercharged by a new Trump trade war.

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