SINGAPORE - OCBC Banks's earnings continued to rebound from last year as it posted on Wednesday (Aug 4) a 59 per cent increase in second-quarter net profit to $1.16 billion on the back of lower allowances. It also declared an interim dividend of 25 cents per share for the first half of the year, up from 15.9 cents a year ago. This represents a payout ratio of 42 per cent against the group's first-half net profit and comes after the Monetary Authority of Singapore last month lifted restrictions that capped dividend payouts from local banks and finance companies at 60 per cent of the previous year's dividend amid the coronavirus pandemic. OCBC's earnings topped the $1.14 billion average estimate of six analysts polled by Bloomberg. Group chief executive Helen Wong said net profit growth was driven by robust banking and insurance performance, while wealth management income grew strongly and private banking assets under management continued to expand. "While net interest margin remained relatively stable amid a low rate environment, fee and investment-related income grew in tandem with renewed consumer and business confidence," she said. Ms Wong added that the bank remains watchful on ...