SINGAPORE BANK OCBC Q1 PROFIT DIPS TO SEVEN YEAR LOW

Highlights:

• Overseas Chinese Banking Corp. (OCBC) has doubled its loan loss provisions due to coronavirus pandemic.
• It also slumped by 43% in first-quarter net profit.
• This slump has marked the lowest in seven years.

Overseas Chinese Banking Corp. (OCBC), Singapore’s second-largest lender, has doubled its loan loss provisions with the increased coronavirus pandemi....