OCBC Bank
SINGAPORE: Oversea-Chinese Banking Corp Ltd, Singapore’s No. 2 lender, posted a 54% jump in quarterly profit, capping a strong earnings season for the Asian banking hub as growth in China-related trade finance and wealth services offset a property slowdown.
Singapore’s housing market has seen a sharp downturn in response to government cooling measures, with new loan applications falling as much as 40% in the second quarter as property sales plunged by half in the first six months of the year.
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