OCBC raises 2026 loan growth forecast after Q2 profit jumps 22%, lifts dividend
OCBC Bank reported a record second-quarter net profit of S$2.22 billion, a 22% increase from the previous year. Consequently, the bank has raised its full-year loan growth forecast, citing strong performance in wealth management and corporate lending.
Why it matters
As a major financial institution in Singapore, OCBC's performance and guidance serve as a key indicator for the health of the Southeast Asian banking sector and regional economic trends.
Higher guidance comes as wealth, trading and insurance offset pressure from lower interest rates
[SINGAPORE] OCBC has raised its full-year loan growth guidance after a stronger-than-expected first half, as continued momentum in wealth management and corporate lending helped offset lower interest rates.
The bank now expects loan growth of high-single digits to low-double digits, up from its previous forecast of mid-single-digit growth. It also expects total income to grow year on year despite a slight decline in net interest income.
The upgraded outlook came as OCBC on Friday (Aug 7) reported a record second-quarter net profit of S$2.22 billion, up 22 per cent from a year earlier and above the S$1.91 billion consensus forecast in a Bloomberg survey of five analysts.
Profit before tax rose 20 per cent to S$2.76 billion as total income climbed 18 per cent to a record S$4.17 billion.
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