SINGAPORE: OCBC Bank Ltd, Singapore's third biggest lender, has reported an unexpectedly large 26% drop in first-quarter net profit, hurt by a weak equity market and the country’s slowing economy.
The bank also said its outlook depended on the duration of the Severe Acute Respiratory Syndrome (SARS) outbreak, which has killed 28 people here and taken a heavy financial toll on the tourism and service industries.
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