Q3 2020 Oversea-Chinese Banking Corporation Ltd Earnings Media Briefing Transcript
Okay, good morning. Welcome to OCBC's third quarter results briefing. We have today with us Mr. Sam Tsien, our CEO; and Darren Tan, our CFO. I'm going to let Darren take us through the slides. And then after that, we will take questions. (Operator Instructions) Okay. Darren, please.
Okay. Thank you, Ching Ching. Good morning, and thank you for joining us.
We are pleased to report a net profit of SGD 1.028 billion for the third quarter, while net interest income continued to decline on the back of lower interest rate globally. Our noninterest income franchise in wealth management and insurance was able to generate a relatively robust performance. This demonstrated yet again the benefit of having a diversified portfolio of businesses. And hence, multiple sources of revenue.
With the phased opening of the various markets, we have also been able to engage our
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