Half Year 2021 Oversea-Chinese Banking Corporation Ltd Media Briefing Transcript
Thank you for joining us on the line. And today, we have with us our Group CEO, Helen Wong; our CFO, Darren Tan; our Deputy President and Global Wealth Management and Consumer Banking, Mr. Ching Wei Hong; and we have our Global Treasury Head, Mr. Kenneth Lai. We will have Darren take us through our presentation slides; and thereafter, we will take a Q&A after Helen says a few words. Darren, (inaudible).
Thank you, Ching Ching. Thank you, everyone, for joining us. I will move on to Slide 3, if you have the slides in front of you.
Now first half 2021 net profit rose 86% year-on-year to SGD 2.66 billion. Correspondingly, our annualized ROE was also higher at 10.8%. Net interest income has remained stable, while noninterest income has moved in tandem with market. For the quarter, noninterest income was 17% lower quarter-on-quarter.
Allowances, although higher
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