OCBC drinks to a record profit from brewery sale

Oversea-Chinese Banking Corp, Southeast Asia's second-largest lender, posted record quarterly profit on a gain from the sale of stakes in a drinks manufacturer and a brewery.

Third-quarter net income more than tripled to S$1.85 billion (HK$11.7 billion) from S$513 million a year earlier, the Singapore-based bank said yesterday. Excluding the one-time gain of S$1.13 billion, profit was S$724 million, which exceeded the S$615 million average of six analysts' estimates.

via Business feed http://www.scmp.com/business/banking-finance/article/1079006/ocbc-drinks-record-profit-brewery-sale