May

OCBC Drops on Concern Profit Growth Relied on Loan Provisions

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…

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OCBC Drops on Concern Profit Growth Relied on Loan Provisions

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