UOB housing NPL hits half a billion dollars at end Q3; Wing Hang consolidation pushes up figure at OCBC
SLIDING Singapore home prices - especially those of high-end residences - are piling on more bad loans onto local banks' non-performing loan (NPL) books.
United Overseas Bank (UOB) yesterday said that its housing NPLs have increased in the past two consecutive quarters to S$502 million for its fiscal third quarter, due primarily to borrowers investing in a particular high-end residential project in Singapore.