OCBC posts 21% rise in Q4 gain; sees weak loan growth ahead
OCBC becomes most well-capitalised bank in Singapore, ends 2015 with core equity tier-1 at 11.8%
Add BT as a preferred source
Singapore
OCBC expects weak loan growth, and a small lift in lending margins for 2016 amid the challenging market environment, its chief executive Samuel Tsien said on Wednesday as the bank reported a 21 per cent jump in net profit for the fourth quarter.
But amid concerns over risk and asset quality, it will start off on a stronger base as it boosted its capital position, with OCBC ending last year with a core equity tier-1 at 11.8 per cent, displacing UOB to become the most well-capitalised bank in Singapore. This is on a "fully loaded basis", or based on Basel III rules that will be effective by Jan 1, 2018.
TRENDING NOW
How BYD disrupted Singapore’s car market – and why the strategy is turning on itself
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
Two-thirds of Sentosa Cove resales in the red, with average loss topping S$1 million since 2023
