OCBC Flags Middle East War Risks as Southeast Asia’s Energy Exposure Clouds Banking Outlook - Tekedia

OCBC posted first-quarter net profit of S$1.97 billion, beating expectations on strong non-interest income and wealth management.

The Singapore lender also raised precautionary provisions, signaling caution over possible future credit stress.

OCBC warned the Middle East conflict could push up energy costs and slow Southeast Asia’s economy.

That could feed through to higher inflation, weaker demand, and more pressure on regional bank loan quality.