Singapore lender OCBC's fourth quarter profit falls 10 percent, cautions on economic growth

SINGAPORE (Reuters) - Oversea-Chinese Banking Corp Ltd warned of slower economic growth after Singapore's second-biggest listed lender missed market estimates with a 10 percent drop in quarterly profit, due to a weak performance in its insurance business. Singapore banks are gearing up for tougher times after three years of strong loans growth as the city-state's export-reliant economy slows, partly due to a trade war between China and the United States. "Looking ahead, global economic growth is expected to slow on concerns of continued trade and geopolitical tensions, subdued market and investment sentiments and rising policy risks in the advanced economies," OCBC CEO Samuel Tsien said in a statement on Friday

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