Singapore Banking Titans Post Strong Earnings as Wealth Fees Offset Rate Headwinds

Singapore's banking trio delivered a masterclass in pivoting to fee income, with OCBC leading the charge.

OCBC posted a stunning 22% jump in Q2 net profit to S$2.22 billion, crushing analysts' forecasts of S$1.91 billion. The secret sauce? Non-interest income exploded 51%, with wealth management fees up 28% and trading income soaring 85%. The bank raised its loan-growth forecast and declared a 47-cent interim dividend, returning...