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OCBC Drops on Concern Profit Growth Relied on Loan Provisions | Tony Seruga
May
06

OCBC Drops on Concern Profit Growth Relied on Loan Provisions

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  • CEO Tsien says loan allowances may rise in later quarters
  •  Investors expected better interest margins, BI analyst says

Southeast Asia’s second-largest bank slid as much as 3.2 percent in Singapore on Monday morning after Chief Executive Officer Samuel Tsien signaled that last quarter’s decline in loan allowances may be as good as it gets this year. Analysts expressed concern that OCBC’s loan margins failed to widen from the previous quarter — unlike those at DBS Group Holdings Ltd. and United Overseas Bank Ltd. — even as benchmark interest rates rose…

OCBC Drops on Concern Profit Growth Relied on Loan Provisions

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