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About half of OCBC's O&G portfolio in offshore support services

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ABOUT half of OCBC Bank's oil and gas (O&G) portfolio is made up of businesses in the offshore support services, chief executive officer Samuel Tsien said on Wednesday.

ABOUT half of OCBC Bank's oil and gas (O&G) portfolio is made up of businesses in the offshore support services, chief executive officer Samuel Tsien said on Wednesday.

This portion, which stood at 47 per cent of its S$12.4 billion O&G portfolio, is "under more stress than the remaining", and the bank has worked with its customers to ensure that vessels continue to be utilised, and generate cash flow, he said at a results briefing.

Some 0.4 per cent of loans are non-performing loans that are linked to O&G, and this is up from 0.01 per cent a year ago.

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