Plunging China trade loans hit Singapore banks

Singapore banks, which have enlarged their China credit exposure in recent years, were hit by a drop in billions of dollars of China trade-financing deals as mainland borrowing conditions became easier while offshore interest rates grew more expensive. The premium of the onshore six-month Shanghai interbank offered rate to the offshore six-month CNH Hong Kong…

OCBC beats forecasts on Q1 loan growth surge, UOB roughly in line

Singapore’s Oversea-Chinese Banking Corp beat expectations with an 11 percent rise to record quarterly net profit, as the consolidation of its newly acquired Hong Kong lender Wing Hang Bank helped it post robust loan growth. But smaller rival United Overseas Bank booked a 1.6 percent rise in first-quarter profit, narrowly missing analysts’ forecasts. Despite a…