Oversea-Chinese Banking Reports Disappointing Earnings for Full Year 2024
March 5, 2025 - 10:10
Oversea-Chinese Banking has released its financial results for the full year of 2024, revealing a mixed performance that has raised concerns among investors. The bank reported a revenue of S$13.8 billion, reflecting a 7.9% increase compared to the previous fiscal year. However, despite this growth in revenue, the earnings per share (EPS) fell short of market expectations, leading to a cautious outlook.
The bank attributed the revenue growth to higher net interest income and an increase in fee-based income. However, challenges such as rising operating expenses and credit provisions have impacted overall profitability. Analysts had anticipated a stronger performance, which has resulted in a negative reaction from the market.
In light of these results, the bank is expected to implement strategic measures to enhance operational efficiency and manage costs more effectively. Investors will be closely monitoring the bank's next moves as it seeks to navigate the competitive landscape and improve its financial performance in the coming quarters.
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