OCBC posts record S$7.02 billion earnings for FY2023; expects lower NIMs, slow loan growth in 2024
SINGAPORE’S second-largest lender OCBC will likely post lower net interest margins (NIMs) and slow loan growth in 2024 amid a global growth slowdown, said OCBC group chief executive Helen Wong.
Speaking at the bank’s fourth quarter results briefing on Wednesday (Feb 28), Wong expects 2024 to be more challenging than 2023, although Asia will likely perform better than the world average.
“We think there will be continued potential as we optimise in capturing growth opportunities in the Asean-Greater China link and our corridor,” she said.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Far East Hospitality Trust Q1 net property income rises 6% to S$25.1 million
Boeing gets a welcome respite with US$10 billion bond offering
Hong Kong vies with US in Bitcoin ETF market after crypto’s revival
Chevron CEO expects ExxonMobil arbitration resolved in coming months
Paramount replaces CEO with trio as it talks merger with Skydance
MicroStrategy posts loss on impairment charge, revenue declines