OCBC (OCBC.SI), Singapore’s third biggest lender, said that non-performing loans may have peaked, after its third quarter earnings were helped by a drop in bad debts.
“Touch-wood, it looks like NPLs have peaked,” said CEO David Conner at a post-results briefing.
INVESTORS HAVE GOOD reasons to be amused by No. 3 local bank group’s dividend policy. While Oversea-Chinese Banking Corporation’s shareholders are assured that their dividends are unlikely to be cut this year, its 87%-owned subsidiary Great Eastern Holdings, slashed the dividends it pays (mostly to OCBC) in the first half. What’s going on? Here’s a [...]
OCBC (OCBC.SI), Singapore’s smallest listed bank, signalled the worst may be over for the banking sector as it posted an unexpected 10% rise in quarterly profit fuelled by strong trading gains and loan margins.
Shares of Oversea-Chinese Banking Corp fell ahead of the result after it shocked investors with a late Friday announcement that it will take a one-time charge in the third quarter linked to its insurance arm that is redeeming policy holders burnt by risky debt products.
