This was due to the increase in cost of deposits having outpaced the rise in interest income with a higher loan base, the company says.
Singapura Finance’s earnings have plunged 65.3% to $1.9 million in the six months ended June 30 from $5.6 million a year ago.
The weaker bottom line was primarily attributed to lower net interest income and hiring charges of $9.1 million, down 19.9% y-o-y to from $11.3 million.
