OCBC Q2 Net Profit Up 12%

Singapore's Oversea-Chinese Banking OVCHY reported a 12% rise in its second-quarter net profit. OCBC's quarterly net profit climbed to 648 million Singapore dollars (US$519.5 million), versus S$577 million, in the year-ago period. However, analysts were expecting a net profit of S$616 million. Its net interest income surged 13% to S$931 million, while noninterest income climbed 2% to S$596 million.