The loans were also to “very good names in the Middle East” with exposures largely in commercial paper with “good credit links”.
Oversea-Chinese Banking Corporation (OCBC) says its exposure to the Middle East is limited amid rising geopolitical tensions.
The bank’s exposure is “not very large” at about “2% to 3%” of its loan book, says chairman Andrew Lee at the bank’s 89th annual general meeting (AGM) on April 16.
