Full Year 2020 Oversea-Chinese Banking Corporation Ltd Earnings Media Briefing Transcript
Good morning, everyone. Okay. I'll run through our results very quickly. There's a bit of echo because of this cubicle we're in. I'm not sure whether you can hear us reasonably okay.
Yes, because I hear myself quite well. Okay, anyway, I'll refer you to Slide 3. So despite the pandemic, we ended the year reasonably well. Fourth quarter, we delivered a net profit of SGD 1.13 billion, and that's an increase of 10% on a quarter-on-quarter basis.
Full year, we reported a net profit of SGD 3.59 billion, 26% lower than SGD 4.87 billion in the previous year. You can see that the performance is once again demonstrated the strength of us having a diversified portfolio of businesses.
And specifically, if you look at the net interest income, it rose 1% from the previous quarter to $1.44 billion, underpinned by a 2 basis point improvement in terms of net interest margin as we work very, very hard to manage the cost of our funding.
Fee income and trading income were up 3% to 4% on the back of improved
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