{
  "id": 243330,
  "title": "OCBC, UOB post higher Q2 profit on stronger fee income",
  "url": "https://urgent.news/2026/08/07/ocbc-uob-post-higher-q2-profit-on-stronger-fee-income",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-07T00:24:00.000Z",
  "source": {
    "name": "Channel News Asia",
    "slug": "channel-news-asia",
    "url": "https://www.channelnewsasia.com/business/ocbc-uob-post-higher-q2-net-profit-6304911"
  },
  "original_language": "en",
  "account": "Singapore's two largest banks, OCBC and UOB, reported higher second-quarter profits, driven by record wealth fees and other fee-based businesses. OCBC, the city-state's second-largest bank, saw a 22% rise in net profit, reaching S$2.22 billion, while UOB's profit increased by 10% to S$1.48 billion. The growth in wealth-related income helped offset the pressure from lower interest rates on their core lending operations. OCBC's loan-growth forecast was raised, while UOB cut its 2026 fee-income growth forecast to the low single digits. Despite reporting lower net interest margins, both banks expect loan growth and increased interim dividends.",
  "summary": "OCBC posted a 22 per cent rise in second-quarter net profit, while UOB saw a 10 per cent increase in net profit in the second quarter, helped by record wealth fees.",
  "key_points": [
    "OCBC's net profit rose 22% to S$2.22 billion",
    "UOB's profit increased by 10% to S$1.48 billion",
    "OCBC raises loan-growth forecast, UOB lowers 2026 fee-income growth forecast"
  ],
  "editors_take": "Wealth fees and other fee-based businesses now offset lower interest rates for OCBC and UOB, shifting the profit playbook for Singapore's two largest banks.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}