You are here

UOB's increased loans to oil & gas a sign the worst has peaked

Bank's Q4 net down 6%; total loans up fastest in 2016, by 9%; bigger rivals DBS, OCBC grow loans by 6% and 5% respectively

The bank's exposure to oil and gas rose to S$17.7 billion in Q4 from S$13.2 billion in Q3, due mainly to more loans to national oil companies.


IN yet another sign that Singapore banks' oil and gas woes might have peaked, United Overseas Bank (UOB) has increased its lending to the sector by S$4.5 billion.

The bank on Friday disclosed its latest exposure to the struggling oil and gas sector following the release...

Market voices on: