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OCBC makes additional allowances on its exposure to OSV sector
Bank posts 11% jump in Q1 earnings to S$1.23b
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Tay Peck Gek
Published Fri, May 10, 2019 · 09:50 PM
Singapore
OCBC Bank's decision to take a bigger cushion on its exposure to the offshore support vessels and services (OSV) sector may signal the end of Singapore banks' forbearance for the beleaguered industry.
The sector must go through a complete overhaul if it is to survive, said OCBC chief executive Samuel Tsien at a results briefing on Friday.
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