Oversea-Chinese Banking Corp has reported a 10% y-o-y dip in earnings for 1QFY2022, on the back of a 9% dip in revenue in the same period.
Revenue from non-interest business, which includes wealth management fees, trading income and life insurance profit, was down 23% y-o-y to $1.14 billion. For 1QFY2022, the bank’s non-performing loan ratio was 1.4%, a slight improvement over 1.5% seen in 1QFY2021. Total allowances was just $44 million, versus $161 million in the year-earlier quarter.
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