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OCBC's net profit rises 17 pct for FY17
Last update: 30/04/2018

KUALA LUMPUR, April 30 (Bernama) --†OCBC Bank (Malaysia) Bhd and its†subsidiaries†today reported a 17 per cent†rise in net profit to RM949†million for the financial year ended Dec†31,†2017.

In a statement, the bank†attributed the strong performance to stronger growth in total income, which rose five per cent to RM2.46 billion, mainly from growth in net interest income through better†management of its liabilities, coupled with higher fee income from increased†demand for the bank's wealth management business.

It said total gross loans and advances remained at RM68 billion as the bank†rebalanced its portfolio, while deposits from customers grew four per cent†to RM74 billion,†allowing for greater funding flexibility and an improved liquidity position.

Moving forward,†Chief Executive Officer†Datuk†Ong Eng Bin said for 2018, the bank was poised to continue growing steadily, whilst maintaining a keen†eye on the delivery quality of†products and services which is ultimately key to†benefitting†customers.

"OCBC Malaysia will continue to uphold its†position as a banker of choice and among the very top foreign banks in the†country with the combined strength of conventional and Islamic banking†franchise, as well as in the areas of managing risks and rolling out of new†products and services for consumers.

"For corporate and commercial banking customers, we will†look to intensify†deposit-building strategies via all channels in business†banking, particularly the small to mid-medium-sized market and the emerging†business segment," he added.



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US 4.0470/0500
S'pore 2.9655/9688
100 Yen 3.5973/6010
Sterling 5.3574/3626
Euro 4.7285/7324
Source: Bank Negara Malaysia

Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Bankerís Cheque, Bank Draft and Cashierís Order. Do you think this additional charge is justified?

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