May 6, 2018 / 11:30 PM / 5 months ago

BRIEF-Oversea-Chinese Banking Corp Says Q1 Net Profit After Tax S$1.11 Bln

May 7 (Reuters) - Oversea-Chinese Banking Corporation Ltd :

* NET PROFIT AFTER TAX OF S$1.11 BILLION FOR Q1 OF 2018, UP 29 PERCENT

* QTRLY NET INTEREST INCOME FOR Q1 GREW 11 PERCENT TO S$1.42 BILLION

* QTRLY NET INTEREST MARGIN ROSE 5 BASIS POINTS TO 1.67 PERCENT FROM 1.62 PERCENT A YEAR AGO

* TOTAL ALLOWANCES FOR LOANS AND OTHER ASSETS FOR 1Q18 WERE S$12 MILLION VERSUS S$168 MILLION A YEAR AGO

* GROUP’S NON-PERFORMING LOANS RATIO 1.4 PERCENT AS AT 31 MARCH 2018, AS COMPARED TO 1.3 PERCENT PREVIOUS YEAR

* AT MARCH-END, COMMON EQUITY TIER 1 CAPITAL ADEQUACY RATIO OF 13.1 PERCENT, AND TIER 1 AND TOTAL CAR OF 14.2 PERCENT AND 15.8 PERCENT RESPECTIVELY

* “REMAIN VIGILANT TO GEO-POLITICAL EVENTS INCLUDING INCREASED GLOBAL TRADE TENSIONS” Source text for Eikon: Further company coverage:

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