OCBC sees margin pressure on Indonesian loan book
Bank also reports a 29% boost in net profit for the first quarter to S$1.11 billion
Singapore
THE more concerted push by the Indonesian government to limit loan rates to less than 10 per cent in recent times has put pressure on the net interest margin (NIMs) of OCBC's loan book in the country, said the bank's chief Samuel Tsien. (see amendment note)
This pressure "is continuing", said Mr Tsien on Monday, with the bank hopeful though that the weaker NIM performance will be held up by the expanding NIMs in the other markets of Singapore, Malaysia, and China.
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
Tesla’s plan for affordable cars takes page from Detroit rivals
Meituan to debut in Riyadh as expansion beyond China quickens
Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters
K-pop agency Hybe’s internal strife wipes out 1.2 trillion won
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
Hong Kong bourse regains favour on hopes of a market revival