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# OCBC Posts Record SGD 7.59 Billion Net Profit in FY2024 as Total Income Tops SGD 14 Billion for First Time
- URL: https://www.theglobalbanker.com/ocbc-fy2024-record-net-profit-sgd-7-59-billion-total-income-sgd-14-billion/
- Published: 2025-02-26T16:58:00.000Z
- Updated: 2026-10-02T13:48:00.000Z
- Description: OCBC's full-year 2024 net profit rose 8% to a record SGD 7.59 billion, with total income exceeding SGD 14 billion for the first time and plans to return SGD 2.5 billion to shareholders.
- Author: TGB Editorial Team
- Tags: Banking News, Asia-Pacific, #archive

OCBC Bank reported a full-year 2024 net profit of SGD 7.59 billion, an increase of 8% on the prior year and a record for the third consecutive year, the Singapore-based group announced on 26 February. Total income exceeded SGD 14 billion for the first time in the bank's history, which the group attributed to a combination of record net interest income and strong fee, wealth management, and insurance performance across its Singapore, Greater China, Malaysia, and broader ASEAN markets.

Net interest income reached a record SGD 9.76 billion for the year. Fourth-quarter net profit of SGD 1.69 billion was 4% higher than the same period a year earlier.

#### WEALTH MANAGEMENT AND INSURANCE

OCBC reported record fee income from wealth management. 

Insurance contributed to 2024 earnings through Great Eastern, OCBC's listed insurance subsidiary. 

#### SGD 2.5 BILLION SHAREHOLDER RETURN PLANNED

OCBC announced plans to return SGD 2.5 billion to shareholders through a combination of special dividends and share buybacks. The capital return will be made over 2025 and 2026, the bank said in its results announcement.