OCBC expects credit costs from Covid-19 impact to be higher than during GFC

Extent of fallout from pandemic remains "very uncertain", adds CEO: Q1 net profit down 43%

Singapore

OCBC'S group CEO Samuel Tsien expects cumulative credit costs to be between 100 to 130 basis points (bps) over the next two years - higher than during the global financial crisis (GFC) and similar to the Sars period.

The extent of economic fallout from the Covid-19