Oversea-Chinese Banking Corporation, the Singaporean bank, posted a 94 per cent rise in net profit for the nine months to 30 September 2012, compared to the previous year, on improved trading performance and a strong life assurance business.

Net profit for the three quarters reached S$3.33 billion ($2.7 billion), with the core net profit for the third quarter rising 41 per cent to S$724 million, from S$513 million in the year-earlier period. Net interest income rose 8 per cent to S$944 million for the quarter, with loans growing 8 per cent. 

Singapore loans grew 8 per cent, while Malaysia and Indonesia went up 12 per cent and 40 per cent, respectively. Greater China loans declined 6 per cent, but this was offset by the gains elsewhere. 

Global consumer and private banking at OCBC, which covers deposits, consumer loans, credit cards, wealth management products, trusts, bancassurance and brokerage, grew 18 per cent in the first nine months of 2012 from S$372 million in 2011 to S$440 million. The third quarter delivered a 31 per cent gain in operating profit from S$119 million in the year-earlier period to S$156 million. 

OCBC Bank's key markets are Singapore, Malaysia, Indonesia and Greater China. It has a network of over 500 branches and offices in 15 countries and territories. Its private banking services are provided by Bank of Singapore.