OCBC doubles 1Q21 profit on the back of strong WM business

7 May 2021 | 2 minutes read

OCBC Group on Friday released its 1Q21 results, beating market estimates by more than doubling its net profit to S$1.5 billion, supported by a robust wealth management business. AUM at its private banking arm Bank of Singapore enjoyed steady growth, mounting to US$123 billion (S$165 billion) in 1Q21, showing an 18% YoY increase from US$104 billion in 1Q20. At the…

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