Home Capital Results

Singapura Finance's 1H20 earnings hit by lower net interest income, higher loan impairment allowances

Jeffrey Tan
Jeffrey Tan8/7/2020 06:25 PM GMT+08  • 2 min read
Singapura Finance's 1H20 earnings hit by lower net interest income, higher loan impairment allowances
Singapura Finance’s earnings have plunged 65.3% to $1.9 million in the six months ended June 30 from $5.6 million a year ago.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Singapura Finance’s earnings have plunged 65.3% to $1.9 million in the six months ended June 30 from $5.6 million a year ago.

The weaker bottom line was primarily attributed to lower net interest income and hiring charges of $9.1 million, down 19.9% y-o-y to from $11.3 million.

This was due to the increase in cost of deposits having outpaced the rise in interest income with a higher loan base, the company says.

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.