Singapore's OCBC flags tariff headwinds as Q2 profit falls
DYLAN LOH
SINGAPORE -- Singapore's Oversea-Chinese Banking Corp. (OCBC) on Friday flagged 'continued headwinds from tariffs and geopolitical tensions,' as the lender reported a 7% year-on-year decline in net profit in the second quarter.
OCBC, one of the biggest banks by assets in Southeast Asia, logged a net profit of 1.82 billion Singapore dollars ($1.4 billion) for the April to June quarter, down from SG$1.9 billion in the same period last year.
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