Nicky Loh | Bloomberg | Getty Images
A man walks past Oversea-Chinese Banking Corp. (OCBC) signage displayed outside of the company’s branch in the central business district of Singapore, on Friday, Feb. 10, 2017.
Oversea-Chinese Banking Corp. (OCBC), Singapore‘s second largest listed bank, said net interest income fell 7 percent in the fourth quarter of 2016 to S$1.25 billion with net allowances for loans and other assets of S$305 million, a jump of 57% above S$193 million in the same quarter a year earlier.
The bank said it continued to see loan quality stresses, particularly within the oil & gas sector 104277539 which drove increases in non-performing loans and allowances with an “uncertain outlook and depressed oil prices particularly impacted oil and gas support services sector.”
