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OCBC Bank Third Quarter 2021 Results Update OCBC Group Reported Third Quarter 2021 Net Profit of S $ 1.22 billion Nine months 2021 net profit rose 58 % to S $ 3.88 billion Singapore , 3 November 2021 Oversea - Chinese Banking Corporation Limited ( " OCBC Bank " ) reported its financial results for the third quarter of 2021 ( " 3Q21 " ) . Group net profit for 3Q21 rose 19 % to S $ 1.22 billion from S $ 1.03 billion in the previous year ( " 3Q20 " ) , and up 5 % from S $ 1.16 billion from a quarter ago ( " 2Q21 " ) . Third Quarter 2021 Performance S $ million 3Q21 3Q20 YoY ( % ) 2Q21 QoQ ( % ) Net interest income 1,461 1,421 3 1,461 Non - interest income 1,099 1,118 ( 2 ) 1,111 ( 1 ) of which : Fees and commissions 569 501 14 563 1 Trading income 83 255 ( 67 ) 212 ( 61 ) Profit from life insurance 262 215 22 205 28 Total income 2,560 2,539 1 2,572 Operating expenses ( 1,188 ) ( 1,098 ) 8 ( 1,138 ) 4 Associates 204 153 33 213 ( 5 ) Operating profit before allowances 1,576 1,594 ( 1 ) 1,647 ( 4 ) Allowances ( 163 ) ( 350 ) ( 54 ) ( 232 ) ( 30 ) Amortisation , tax and NCI ( 189 ) ( 216 ) ( 13 ) ( 255 ) ( 26 ) Group net profit 1,224 1,028 19 1,160 5 Group ROE - annualised 9.5 % 8.7 % + 0.8ppt 9.3 % + 0.2ppt 3Q21 Year - on - Year Performance Group net profit rose 19 % to S $ 1.22 billion , driven by resilient business growth and lower allowances as the credit outlook continued to improve . Total income rose to S $ 2.56 billion . • Net interest income ( " NII " ) grew 3 % , underpinned by a 4 % increase in average loan volumes , partly offset by a 2 basis points decline in net interest margin ( " NIM ” ) . Co.Reg.no .: 193200032W 1