Ann: Profit Warning, page-4

You'd think money lenders would be doing great business with record bank profits and the cost of living crisis but evidently not...

"But as interest rates have seemingly plateaued and are expected to start easing in 2024, maintaining this strong performance will be a challenge. At the same time, lenders face a weak outlook for new loans as higher rates mean companies have a general reluctance to take on debt.DBS could see its net income drop in 2024 from 2023, while OCBC and UOB will see only marginal gains, according to the analyst estimates."

https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/singapore-banks-face-uphill-task-to-repeat-2023-profit-growth-79694498


Even with the above said, one would still think being a money lender in this climate wouldn't be the worse business.