EconomySingapore’s OCBC and UOB beat forecasts as wealth income eases margin pressure
Singapore lenders OCBC and UOB posted stronger second-quarter profits than analysts had forecast. Revenue from wealth management and other fee-based businesses helped offset the impact of lower interest rates on their core lending operations. Both banks reported the results on Friday, highlighting the support provided by non-lending income as rate pressure weighed on margins.
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Reuters★★★☆☆2026-08-07 03:20Original
Singapore’s OCBC and UOB beat forecasts as wealth income eases margin pressure
Economy