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Spike in bad home loans swells Singapore banks' NPLs
UOB housing NPL hits half a billion dollars at end Q3; Wing Hang consolidation pushes up figure at OCBC
Published Thu, Oct 30, 2014 · 09:50 PM — Updated Sat, Jan 6, 2024 · 09:11 AM
Singapore
SLIDING Singapore home prices - especially those of high-end residences - are piling on more bad loans onto local banks' non-performing loan (NPL) books.
United Overseas Bank (UOB) yesterday said that its housing NPLs have increased in the past two consecutive quarters to S$502 million for its fiscal third quarter, due primarily to borrowers investing in a particular high-end residential project in Singapore.
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