{"id":3963,"date":"2020-05-22T14:07:59","date_gmt":"2020-05-22T06:07:59","guid":{"rendered":"https:\/\/newmalaysiatimes.com\/?p=3963"},"modified":"2020-05-22T14:07:59","modified_gmt":"2020-05-22T06:07:59","slug":"ocbc-malaysias-fy2019-net-profit-increases-17-pct-to-rm954-mln","status":"publish","type":"post","link":"https:\/\/newmalaysiatimes.com\/?p=3963","title":{"rendered":"OCBC Malaysia’s FY2019 net profit increases 17 pct to RM954 mln"},"content":{"rendered":"
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KUALA LUMPUR, May 22\u00a0—\u00a0OCBC Bank (M) Bhd\u00a0and its subsidiaries (OCBC Malaysia) has recorded a 17 per cent rise in\u00a0net profit to RM954 million for the financial year ended Dec 31, 2019 (FY2019).<\/p>\n

In a statement today, the bank said that this\u00a0was the highest net profit it had\u00a0ever recorded; underpinned by a strong nine per cent growth in total income, mainly due to higher gains on disposal of financial investments along with net interest income.<\/p>\n

\u201cThis is despite the\u00a025 basis points cut in the Overnight Policy Rate and, correspondingly, the bank\u2019s base and base lending\/financing rates in 2019,\u201d it said.<\/p>\n<\/div>\n

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After deducting proposed dividends, OCBC Malaysia remained well capitalised with Common Equity Tier 1 capital ratio of 14.38 per cent, Tier 1 capital ratio of 15.26 per cent and total capital ratio of 17.83 per cent — sufficient to withstand the challenges of the COVID-19 pandemic, it said.<\/p>\n<\/div>\n

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Chief executive officer Datuk Ong Eng Bin said\u00a0the bank would continue to support its customers through the pandemic\u00a0via the combined strength of its conventional and Islamic banking franchise as well as in the areas of managing risks, maximising collaboration within its business units and growing its wealth products platform.<\/p>\n

\u201cWe continue to invest in digital capabilities to widen our offerings and improve customer experience to meet the surge in demand for online services.<\/p>\n<\/div>\n

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\u201cThis disruption in customer banking behaviour will likely have a lasting impact as customers become more accustomed to banking from the comforts of their homes and workplaces,\u201d he said.<\/p>\n<\/div>\n

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Ong added that the bank\u2019s\u00a0corporate and commercial banking segment\u00a0will continue to focus on supporting the\u00a0customers\u2019 local and regional business growth by matching their business expansion requirements with OCBC group\u2019s strong regional network.<\/p>\n

Concurrently, it will also help\u00a0businesses facing financial difficulties due to the impact from the\u00a0COVID-19 pandemic and the movement control order.<\/p>\n<\/div>\n

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Moving forward, Ong said OCBC Al-Amin plans to\u00a0expand its wealth management business and\u00a0build its financing book for corporates and small and medium-sized enterprises, paying particular attention to value-based intermediation, especially in the areas of sustainable financing as part of its long-term growth strategy.<\/p>\n

\u201cOn the corporate social responsibility front, we will ride on the momentum created by our various division and branch level efforts in the last few years to fulfil the social needs of the communities where we operate, maintaining our position as a bank that cares,\u201d he said.<\/p>\n

Formed in 1932, OCBC Bank is the longest established Singapore bank, and it is now the second largest financial services group in Southeast Asia by assets.<\/p>\n

\u2014 BERNAMA<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

KUALA LUMPUR, May 22\u00a0—\u00a0OCBC Bank (M) Bhd\u00a0and its subsidiaries (OCBC Malaysia) has recorded a 17…<\/p>\n","protected":false},"author":1,"featured_media":3654,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41],"tags":[9273],"class_list":["post-3963","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-ocbc"],"featured_image_urls":{"full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/04\/ocbc.jpg",1000,667,false],"thumbnail":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/04\/ocbc-150x150.jpg",150,150,true],"medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/04\/ocbc-300x200.jpg",300,200,true],"medium_large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/04\/ocbc-768x512.jpg",640,427,true],"large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/04\/ocbc.jpg",640,427,false],"1536x1536":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/04\/ocbc.jpg",1000,667,false],"2048x2048":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/04\/ocbc.jpg",1000,667,false],"newsium-slider-full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/04\/ocbc.jpg",1000,667,false],"newsium-featured":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/04\/ocbc.jpg",1000,667,false],"newsium-medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/04\/ocbc.jpg",712,475,false]},"author_info":{"info":["Editor"]},"category_info":"Business<\/a>","tag_info":"Business","comment_count":"0","_links":{"self":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/3963","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3963"}],"version-history":[{"count":1,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/3963\/revisions"}],"predecessor-version":[{"id":3964,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/3963\/revisions\/3964"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/media\/3654"}],"wp:attachment":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3963"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3963"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3963"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}