May 9, 2019 / 11:34 PM / 6 months ago

Singapore lender OCBC'S Q1 net profit rises 11 pct

SINGAPORE, May 10 (Reuters) - Singapore’s Oversea-Chinese Banking Corp Ltd beat market estimates with an 11 percent rise in quarterly profit on Friday, driven by broad-based growth, while net interest income grew 8 percent.

The city-state’s second-biggest listed lender’s net profit came in at S$1.23 billion ($901.5 million) versus S$1.11 billion a year earlier, and compared with the S$1.16 billion average estimate of five analysts, according to data from Refinitiv.

OCBC is the last local bank to report results.

$1 = 1.3643 Singapore dollars Reporting by Anshuman Daga; Editing by Stephen Coates

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