D-Wave Quantum falls nearly 3% as earnings miss overshadows revenue beat
Investing.com-- Oversea-Chinese Banking Corp (SGX:OCBC), Singapore’s second-largest bank, on Friday cut its net interest income outlook for 2025 after clocking a drop in its second-quarter net profit, albeit in line with expectations.
OCBC said its 2025 net interest income was expected to fall by a mid-single-digit percentage, while its net interest margin is expected between 1.90% and 1.95%, down from prior estimates of 2%.
The lender flagged headwinds from global trade disruptions, while a recent drop in interest rates also weighed on its lending margins. Still, OCBC maintained its other 2025 financial targets.
The lender’s net profit for the June quarter fell 7% to S$1.82 billion ($1.40 bln), but was slightly higher than Bloomberg estimates of S$1.78 billion.
The profit drop was driven chiefly by lower net interest income, which fell 6% year-on-year to S$2.28 billion.
But non-interest income remained upbeat, amid strong revenue from fees and OCBC’s trading desk. The bank’s wealth management unit also saw its assets under management surge to a record high.
OCBC declared an interim dividend of 41 Singapore cents.