The cost-to-income ratio for the quarter improved year-on-year to 39.1%, while credit costs in 3Q23 were an annualised 17 basis points. The Group’s robust year-on-year performance for 3Q23 was driven by a 13% rise in total income, underpinned by record net interest income and growth in non-interest income. ![]() Net profit for the nine months of 2023 (“9M23”) was a record S$5.40 billion, a 32% increase from a year ago (“9M22”). Singapore, 10 November 2023 – Oversea-Chinese Banking Corporation Limited (“OCBC”) reported net profit of S$1.81 billion for the third quarter of 2023 (“3Q23”), 21% higher from S$1.49 billion a year ago (“3Q22”), and 6% above S$1.71 billion in the previous quarter (“2Q23”). Nine months 2023 net profit up 32% to new high of S$5.40 billion
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