OCBC stock posts record nine-month profit of S$6.24 billion

OCBC reported a record nine-month result on Friday, November 6, 2026, as growth in wealth management and wholesale banking offset weaker investment performance at Great Eastern Holdings. The bank's official results release said net profit for the first nine months rose 10% from a year earlier to a record S$6.24 billion.

OCBC stock traded at 19.31 euros on Lang & Schwarz at 09:30 CET on Monday, November 9, 2026.

Core banking drives quarterly performance

Third-quarter group net profit increased 3% year on year to S$2.04 billion. The result was the second consecutive quarterly profit above S$2 billion, according to The Straits Times.

Banking Operations profit rose 16% year on year to a record S$1.90 billion. Net interest income increased 4% to S$2.31 billion, helped by loan growth and improved yields, although higher funding costs and lower net interest margins limited the benefit. Fee income grew 8% year on year as wealth management, lending, trade and investment banking activities expanded.

The quarterly result was weaker than the record second quarter because Great Eastern's investment performance deteriorated. OCBC said trading income declined 33% from the previous quarter, while insurance income fell 48%, largely because of market-driven valuation losses linked to interest-rate movements. Excluding Great Eastern, Banking Wealth Management income rose 2% from the previous quarter to a record S$1.12 billion.

Loan growth supports the balance sheet

Customer loans reached S$372 billion at September 30, up 14% from a year earlier and 3% from the previous quarter on a constant-currency basis. Customer deposits rose 12% year on year to S$461 billion. Sustainable financing loans increased 13% to S$62.0 billion and represented 17% of customer loans.

Asset quality remained a support for the earnings profile. The non-performing loan ratio improved to 0.8%, while total non-performing asset coverage stood at 168%. Nine-month allowances declined 9% to S$424 million, and annualised credit costs fell to 14 basis points from 17 basis points a year earlier.

Guidance rises despite uncertainty

OCBC raised its 2026 loan-growth forecast to the low-double-digit range from its previous high-single-digit to low-double-digit guidance. The bank expects total income to grow by at least a mid-single-digit percentage, while net interest income is expected to remain flat or decline slightly. Credit costs are now expected at 15 to 20 basis points, compared with the previous range of 20 to 25 basis points.

Chief executive Tan Teck Long said the group remained positioned to pursue growth in wealth management, wholesale banking and technology-related sectors. He also pointed to geopolitical tensions, inflation risks, energy prices and conditions in Indonesia as factors that could influence the near-term outlook. For investors, the earnings mix leaves loan growth and fee income as important operating supports, while Great Eastern's investment results remain a source of quarterly volatility.

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