19 Feb '13, 9am

OCBC sees up to 30% fall in new home loans

http://www.businesstimes.com.sg/arch...loans-20130216 Published February 16, 2013 OCBC sees up to 30% fall in new home loans COO says the drawdown in 2013 of home loans sold in 2010 and 2011 will cushion the fall in new sales By Siow Li Sen OCBC Bank expects new home loan sales to fall up to 30 per cent this year following recent property-cooling measures, but the impact will not be as great to its mortgage book, said Ching Wei Hong, the bank's chief operating officer. Over the past few years, OCBC has grown its mortgages strongly and the drawdown in 2013 of home loans sold in 2010 and 2011 will cushion the fall in new sales, he said at OCBC's fourth-quarter 2012 results briefing yesterday. Last year, OCBC's home loans grew 18 per cent, or $5.7 billion, to $37.8 billion, with Singapore accounting for about 80 per cent. Mortgages are OCBC's biggest loan product, making up 2...

Full article: http://forums.condosingapore.com/showthread.php?p=370725#...

OCBC expects 30% drop in mortgage lending #PR

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