OCBC's provisions for credit losses swelled to S$750 million in the second quarter from S$111 million a year earlier.
SINGAPORE: Singapore's second-largest lender Oversea-Chinese Banking Corp reported a larger-than-expected 40% tumble in quarterly net profit on Friday, hurt by loan-loss provisions in a pandemic-hit market and a slowdown in customer activity.
Singapore's banking regulator asked the lenders last week to cap their dividends, pummelling their shares.
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