OCBC's H1 net profit plunges 42% to $1.43b

Uploaded By:  Alyssa Divina Submitted By:  Staff Reporter Case Study:  No Q2 group net profit picked up 5% from Q1 but crashed 40% from a year earlier. OCBC has reported a 42% crash in H1 net profit to $1.43b from $2.45b a year ago as the bank has also set aside higher allowances to cushion expected credit losses, according to an announcement. On a quarterly basis, Q2 group net profit picked up 5% to $730m from Q1’s $698b but plunged 40% from Q2 2019’s $1.22b. read more