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OCBC says impact of housing loan drop to come in H2 of 2015

Thursday, October 30, 2014 - 11:30

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OCBC reported a 62 per cent rise in third quarter net profit earlier on Thursday.

[SINGAPORE] The chief executive of Singapore's second biggest lender Oversea-Chinese Banking Corp said on Thursday that the impact of a sharp drop in Singapore housing loans will show up in its results in the second half of 2015.

Speaking at an earnings press conference, Samuel Tsien said the number of new housing loans that the bank has issued is down 40 per cent year to date compared to the same period two years ago.

OCBC reported a 62 per cent rise in third quarter net profit earlier on Thursday.

REUTERS

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