OCBC 4Q24 earnings highlights
OCBC announced its earnings for the fourth quarter of 2024 (4Q24). Key highlights include:
• Net profit of S$1.69 billion in 4Q24, 4% higher compared to the previous year, but below consensus forecasts of S$1.78 billion. Net profit reached record S$6.0 billion in FY24, up 6% year-on-year
• Final dividend of S$0.41 per share, slightly lower compared to the previous year. Special dividend of S$0.16 per share.
• Announced plans to return S$2.5 billion of capital to shareholders over two years via special dividends and share buybacks.
Source: OCBC OCBC's total income for the fourth quarter of 2024 rose to S$3.42 billion, marking a 4% increase from the same period last year.Net Interest Income slightly decreased by 1% year-over-year to S$2.46 billion. The decline is attributed to increased funding costs, which offset the benefits from higher loan amounts. OCBC's net interest margin fell to 2.15%...
