Annualised earnings per share nearly halved y-o-y, with $0.64 in 1H2020 compared to $1.15 this time last year.
Oversea-Chinese Banking Corporation (OCBC) has reported earnings of $1.43 billion for 1H2020 ended June, 42% lower y-o-y, after it set aside significantly higher allowances against expected credit losses due to the impact of Covid-19.
Net profit for 2Q20 fell 40% y-o-y to $730 million, although the figure represented a 5% increase from its 1Q20 earnings.
