You are here

OCBC warned of painful Wing Hang restructuring

Macquarie draws parallel with DBS acquisition of Dao Heng, saying OCBC faces risk of significant goodwill impairment

Singapore OCBC Bank's proposed acquisition of Wing Hang Bank is a replay of DBS's purchase of Dao Heng Bank that took "painful restructuring", says a Macquarie report. "Watching all of history repeat itself," says the 85-page report, which cautioned against Singapore banks making the same