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Saturday, 8 August 2020

Banks Cut Dividends And Front Loaded Q2 For More Provisions

 

Posted by Createwealth8888 at 08:20
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1 comment:

  1. Siew Mun8 August 2020 at 13:07:00 GMT+8

    I liked OCBC prudent approach to front load the NPL and reduce exposure to O&G Offshore support.
    OCBC's Q2 net profit fell by a larger-than-expected 40 per cent after it took S$350 million in provisions to write down the carrying value of the existing offshore support vessels (OSVs) that back corresponding impaired loans - a move that has crunched down its exposure to the offshore support sector. Consequently, the bank's OSV portfolio, excluding conglomerates, is now down to less than 0.3 paer cent of total outstanding loans
    https://www.businesstimes.com.sg/companies-markets/ocbc-takes-knife-to-offshore-support-sector-exposure-q2-profit-down-40
    .

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