Once-hot Singapore banks are turning cold

THIS week – on Friday, June 10 – readers of The Business Times will have the opportunity to join me as I chat with OCBC chief executive Helen Wong about the outlook for the financial institution.

This is a particularly interesting moment to have this conversation.

Last year, it seemed that OCBC and its local peers DBS and UOB were ideally positioned to ride the post-pandemic recovery. Profitability was swinging up on falling provisions and strong fee income. Rising interest rates were also expected to boost their net interest margins.