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RETAIL BANKING | Staff Reporter, Singapore

OCBC's net profit to grow 3% in the next two years

This will be on the back of higher loan growth.

Singapore bank OCBC may realise up to 3% rise in core net profit in the next two years.

According to Maybank Kim Eng, this would come with the 6-8% growth forecast in loans and higher non-interest income expectations.

"We believe more opportunities could come from better economic prospects due to a trade-led growth recovery and recovery in the Singapore property market," Maybank Kim Eng said.

The brokerage firm said buoyant market conditions in the first half of the year led to a better performance for OCBC's Great Eastern, which saw non-operating profit surged 262% YoY.

"However, volatile market conditions can swing earnings as OCBC has a greater reliance on non-interest income," Maybank Kim Eng stated.

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