Q3 2025 Oversea-Chinese Banking Corp Ltd Earnings Call

November 7, 2025

Thank you, Paul which I think actually that's all along to our third quarter results briefing. This results briefing will be and then just last one results briefing.

Ching Ching: Good morning. Good morning, everyone. Thank you for joining us to our Q3 results briefing. This results briefing will be Helen's last results briefing. Of course, we all wish her all the best. From the Q4 and full year results, you'll see Teck Meng How Ming briefing next year. Okay. Without further ado, I'll pass time to Janine to take us through our results.

And so of course, we all wish her all the best I mean from the fall.

Accordingly, we have results of this evening, but I'm told me.

And next one okay, so listen I'm, sorry to dwell times, what you need to take us through the shops.

Good morning, everyone.

You for joining us and we'll see we see the Q five results briefing.

Chin Yee: Good morning, everyone. Thank you for joining us in OCBC's Q3 2025 Results Briefing. Our Q3 2025 group net profit was SGD 1.98 billion, up 9% from last quarter and largely unchanged from a year ago. This was our second highest quarterly net profit. ROE was an annualized 13.4%. Total income grew 7% from previous quarter. The growth was driven by record non-interest income, which more than compensated for the decline in net interest income. NII fell 2% to SGD 2.23 billion QoQ, amid declining benchmark rates. We continue to prioritize asset growth to support NII. Non-interest income rose 24% to SGD 1.57 billion, driven by fee, trading, and insurance income.

Our Q five group net profit was $1 98 billion, Singapore Dullness.

Up 9% from last quarter, and Laci unchanged from a year ago.

This was our second highest quarterly net profit.

I know he wants an annualized 13, 4%.

Alright income grew 7% from previous quarter. The growth was driven by record noninterest income, which more than compensated for the decline in net interest income.

And then I fell 2% to two 3 billion quarter on quarter EMEA grinding benchmark rates.

We continue to prioritize asset growth to support NII.

Noninterest income rose, 24% to 157 billion driven by fee trading and insurance costs.

The strong results.

We're supported by our wealth management franchise, we should continue to skew.

Chin Yee: The strong results were supported by our wealth management franchise, which continued to scale and delivered record wealth management income. Our insurance business also contributed strongly, reinforcing the benefits of our diversified income streams. Loans and deposits continued to register healthy growth, up 7% and 11% respectively year-on-year. Asset quality remained resilient. NPL ratio stable at 0.9% for the past 6 quarters. Total credit costs in Q3 2025 were 16 basis points on annualized basis. Total NPA coverage was 160%. Our capital position remains sound. Common equity tier one ratio was 16.9% on a transitional basis and 15% on a fully phased-in basis. With our solid Q3 earnings, our 9M 2025 group net profit reached SGD 5.7 billion, 4% below 9M 2024.

And deliver record wealth management income.

Our insurance.

Insurance business also contributed strongly.

Forcing the benefits of our diversified income streams.

Loans and deposits continue to reduce the healthy growth up 7% and 11% respectively year on year.

Asset quality remained resilient.

NPL ratio stable at 049 percent for the past six quarters.

Total credit cost in that queue of 25 were 16 basis point on annualized basis.

The NPA coverage was 166.

Our capital position remains some common equity tier one ratio was 16, 9% on a transitional basis and 15% on a fleet basis.

With our solid third quarter earnings our ninth months of 25 net profit reached five 7 billion, 4% below nine months.

Paul.

The strength of our one group franchise is reflected in the performance across our banking wealth management and insurance P less.

Chin Yee: The strength of our one group franchise is reflected in the performance across our banking, wealth management, and insurance pillars. Our banking net profit grew 3% from last quarter, demonstrating resilience despite a declining interest rate environment. Double digit growth in non-interest income more than compensated for the moderation in NII. Wealth management income and AUM were at record highs. Our wealth management income grew 25% to SGD 1.62 billion, contributing 43% to group total income. Banking AUM rose 18% year-on-year and 8% QoQ to SGD 336 billion, driven by net new money inflows and positive market valuation. Net new money inflows were SGD 12 billion in Q3, above the run rate for the past 2 quarters of about SGD 4 to 5 billion. Year to date, 9 months net new money inflows were SGD 21 billion.

Our banking net profit grew 3% from last quarter, demonstrating resilience, despite a declining interest rate environment.

How 'bout digit growth in noninterest income more than compensated for the moderation in NII.

Wealth management income and in U M, whereas Rick Calk hubs.

Our wealth management income grew 25% to 162 billion contributing 43% who group total income.

Banking AUN rose, 18% year on year, and 8% Q on Q to 376 billion driven by net new money inflows and positive market than we should.

Net new money inflows.

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Water above the run rate.

For the past two quarters of about 425 billion.

You have to date nine months net new money inflows was 21 billion.

On insurance.

Perfect contribution from our G. H grew 50% Q on Q to 347 million.

Chin Yee: On insurance, profit contribution from GEH grew 50% Q on Q to SGD 347 million. This was driven by improved investment performance from insurance and shareholders funds. GEH new business embedded value or NBEV rose 9%, and NBEV margin improved to 48.8%, reflecting GE's strategic shift towards higher margin products. Moving on to details of our group performance trends, starting with NII on slide 8. NII for the quarter came in at SGD 2.23 billion, 2% lower from last quarter. Average assets grew 1%, but this was offset by an 8 basis point decline in NIM to 1.84%. Referring to the waterfall chart on NIM. NIM narrowed primarily from lower loan yields, which reduced margin by 21 basis points.

This was driven by improved investment performance from insurance and channel this firms.

G H, new business embedded value of Ambev rose 9%.

And and best margin improved to 48, 8%, reflecting Gs strategic shift towards higher margin products.

Moving onto the details of our group performance trends, starting with NII on slide eight.

And I for the quarter came in at $2 billion to $3 billion, 2% lower from last quarter.

Average assets grew 1%, but this was offset by an eight basis point decline in NIM to 184%.

Referring to the waterfall chart on NIM.

NIM narrowed primarily from lower loan yields, which reduced margin by 21 basis points.

This was driven by the fall in benchmark reach particularly the average rates for Sarah and Hypo.

Chin Yee: This was driven by the fall in benchmark rates, particularly the average rates for SORA and HIBOR. The progressive reduction in our funding costs, as well as cash flow hedges, partly mitigated the compression in loan yields. About half of our loan book is denominated in Sing Dollar and Hong Kong dollar. For these currencies, around 80% of our Sing Dollar loans and almost all Hong Kong dollar loans are either on floating rates or due for repricing within a year. The exit NIM for September was 1.84%. At end September, our NIM sensitivity based on 100 basis point drop in rates across our four major currencies of Singapore dollars, Hong Kong dollars, Malaysian ringgit, and US dollars was about 11 basis points on an annualized basis. Sorry, on non-interest income now.

The progressive reduction in our funding cost.

As cash flow hedges, partly mitigate the compression in loan yields.

About half of our loan book is denominated in sing dollar and Hong Kong dollar.

Or these currencies around 50% of all sing dollar loops and almost all Hong Kong dollar loans.

On floating rates, all Q4 repricing within a year.

The ZIP NIM fall September was 184%.

At end September our NIM sensitivity based on 100 basis point drop in rates across our four major currencies.

Singapore dollars on Condor, let's Malaysian ringgit.

In U S dollars was about 11 basis points on an annualized basis.

On NII, sorry, our non interest income.

Before the quarter noninterest income was up 24% Q on Q supported by broad based growth across key trading and insurance income.

Chin Yee: For the quarter, non-interest income was up 24% QoQ, supported by broad-based growth across fee, trading, and insurance income. For the nine-month period, non-interest income grew 10% year-on-year to a new high of SGD 4.14 billion, lifted by the same growth drivers. Fee income was a key contributor, increasing 24% to SGD 1.8 billion. Our fee income reached SGD 683 million in Q3 2025, up 18% QoQ and 34% year-on-year, driven by higher corporate as well as wealth customer activities. As can be seen from the chart, our fee income has maintained an upward trajectory over the past five quarters, contributed mainly by the strong momentum in wealth management. The record Q3 wealth management performance lifted our nine-month fee income to a new high of SGD 1.8 billion, up 24%.

For the nine month period noninterest income grew 10% year on year to a new high of $4. One 4 billion is spent by the same growth drivers.

The income was a key contributor be seen 34% to $1 8 billion.

Our fee income reached 683 million in Q, often five up 18% Q on Q and 34% year on year, driven by higher corporate costs.

Well as well customer activity.

As can be seen from the chart.

Our fee income has been team an upward trajectory over the past five quarters.

You built it mainly by the strong momentum in wealth management.

Direct cost that's quarter wealth management performance lifted our ninth month.

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Wealth management fees, such 75% to $953 million contributing more than half of fee income.

Chin Yee: Wealth management fees surged 35% to SGD 923 million, contributing more than half of fee income. Compared to last year's, customers deployed more funds into investments across all wealth segments, with around 60% of Banking AUM invested. Trading income for the quarter was SGD 518 million, up 38% QoQ. The strong growth was driven by customer flow treasury income, which was at a quarterly high. Non-customer flow trading income also improved, reflecting better investment performance across our global markets portfolio as well as GE's shareholders funds. For the 9-month period, trading income was up 4% to SGD 1.29 billion, underpinned by record customer flow treasury income. The growth was contributed by both wealth and corporate segments. Moving on to expenses. Our operating expenses continued to be well managed even as we invest strategically for growth.

Compared to last year as customers deploy more funds into investments across all bell segments is around 60% of banking EQM method.

Trading income for the quarter was $518 million.

He is a friend to on to.

The strong growth was driven by customer flow Treasury income, which was a quantum he's high.

Non customer through trading income also improved reflecting better investment performance across our global markets.

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For the nine month period trading income was up 4% to $1 9 billion underpinned by record customer flow Treasury income.

The growth was contributed by both wealth and corporate Secretary.

Moving on to expenses.

Our operating expenses continued to be well managed even as we invest strategically.

Growth.

For the nine month period operating expenses rose by 3% year on year cost to income ratio plus help below 40% at 39, 3%.

Chin Yee: For the nine-month period, operating expenses rose by 3% year-on-year. Cost-to-income ratio was held below 40% at 39.3%. Our loan book remains well-diversified across geographies and sectors. Loans grew 7% year-on-year and 1% quarter-on-quarter to SGD 327 billion. Growth over the past year was broad-based across consumer and corporate segments. In particular, the transport, storage, and communication sector grew the most as we focus on capturing opportunities in the new economy sectors and high-growth industries. Singapore housing loans also grew as we build market share. Sustainable financing continues to gain traction. Loans grew 17% year-on-year to SGD 55 billion, and now accounts for 17% of our total group loans. Our overall loan portfolio quality remains sound. NPL ratio stable at 0.9%.

Our loan book remains well diversified across geographies and sectors.

Loans grew 7% year on year, and 1% of third quarter with 357 billion.

Growth over the past year was broad based across consumer and corporate segments.

In particular, the transport storage and communications sector moved the most.

Focus on capturing opportunities in the new economy sectors and high growth industry.

Singapore housing loans also grew as we view a good shape.

Sustainable financing continues to gain traction Lewis grew 17% year on year with 55 billion and now accounts for 17% of our total group grows.

Our overall loan portfolio quality remained sound NPL ratio stable at 049 percent.

N P. Eight declined by 1% Q on Q, largely due to higher recoveries upgrades and write offs.

Chin Yee: NPAs declined by 1% QoQ, largely due to higher recoveries, upgrades, and write-offs, which more than compensated for new NPAs. We remain vigilant and continue to conduct ongoing reviews of our loan portfolio, including assessments on the potential impact of trade tariffs. Total allowances for 9 months 2025 were SGD 466 million, down 4% due to lower allowances for impaired assets. Allowances for non-impaired assets were higher. This included preemptive allowances set aside for trade tariffs and macro uncertainties and adjustments of NBEV updates, mainly to reflect the weaker economic outlook. Credit costs for 9 months 2025 were at an annualized 17 basis points. Our Q3 2025 allowances were higher QoQ as we set aside allowances for impaired assets. Our NPA coverage ratio was around 160% over the past five quarters.

More than compensates us for new M. P H.

We remain vigilant.

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On the potential impact of trade areas.

Well the allowances for nine months during five $466 million down, 4% due to lower allowances or in pet sets.

Allowances will not impact our sets were higher.

This include a preemptive allowances set aside a trip arris and macro uncertainties and adjustments.

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Credit cost for nine months and five well at an annualized 17 basis points.

Our acute and five allowances were higher at times.

As we set aside allowances awesome headsets.

Yeah.

Our NPA coverage ratio was around 160% over the past five quarters.

Allowance for non impaired loans maintained at 0.9% of.

Chin Yee: Allowances for non-impaired loans maintained at 0.9% of total performing loans. Moving on to deposits. Customer deposits rose 11% year-on-year and 1% QoQ to SGD 411 billion. CASA deposits grew by SGD 27 billion or 15% year-on-year across both corporate and consumer segments. CASA ratio improved to 50.3%. Our strong deposit franchise contributed to 80% of our funding structure. All funding and liquidity ratios are well above regulatory requirements. Moving on to capital. Our capital position remains strong. Transitionary CET1 ratio was 16.9%, broadly stable quarter-on-quarter. On a fully phase-in basis, our CET1 ratio was 15%. Our robust balance sheet and capital position enable us to pursue growth opportunities, navigate uncertainties, and enhance shareholders' returns. With this, I end my presentation. Thank you. I will now hand the floor over to Helen.

Total performing roads.

Moving on to deposits.

As the month deposits rose, 11% year on year, and 1% Q on Q to 111 billion.

Uh-huh deposits grew by 27 billion.

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Across both corporate and consumer segments.

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Okay.

Our strong deposit franchise contributed 80% of our funding structure.

All funding and liquidity ratios are well above regulatory requirements.

Yeah.

Moving on to capital.

Our capital position remained strong.

Transition Murray she EQM ratio was 16, 9% broadly stable quarter on quarter.

On a fully phased in basis, our CET one ratio was 15%.

Our robust balance sheet and capital position enable us to pursue growth opportunities east navigate uncertainties and enhance shareholder returns.

This I end my presentation. Thank you and I will now hand, the floor over to Helen and then penetration.

Thank you Jamie.

Good morning, everyone as usual when we need help from speaking.

Chin Yee: Helen.

Helen: Yes. Thank you, Chin Yee. Good morning, everyone. As usual, very happy to see faces. I always say that because when I started, we can't see faces. It wasn't open. It's always good to have you at office. Just want to start with some comments on the Q3 results. Of course, it is our strongest quarter this year, and it's the second highest on record. I think this quarter lost out to Q1 2024 by like SGD 4 million. Yeah. It's all in all, a very good quarter. Of course, net profit is up Q-on-Q by 9% and SGD 1.98 billion, of course, and it's closest, as you said, closest to Q1 2024.

Helen Wong: Yes. Thank you, Chin Yee. Good morning, everyone. As usual, very happy to see faces. I always say that because when I started, we can't see faces. It wasn't open. It's always good to have you at office. Just want to start with some comments on the Q3 results. Of course, it is our strongest quarter this year, and it's the second highest on record. I think this quarter lost out to Q1 2024 by like SGD 4 million. Yeah. It's all in all, a very good quarter. Of course, net profit is up Q-on-Q by 9% and SGD 1.98 billion, of course, and it's closest, as you said, closest to Q1 2024.

So he says I always say that the course with our thoughts it becomes your basis, what's the whole center.

So it's always good to have you at the office.

Just wanted to start with something called menthol in the third quarter results of course, it's our strongest quarter of this year.

So it's the second highest on record.

And we all felt this quarter loss out to first quarter trailing 12 4 million.

So it's a very good quarter.

And that process up Q on Q by 9% and a $1 19 for the rest of Bush closer. She said this is to our first quarter pretty full I think we achieved this despite a declining from the environment.

Helen: I think we achieved this despite a declining shipment environment through a few things. I think the first thing I have to mention is the ability of our diversified business pillars, right? Producing or generating balanced earnings through economic cycles. As covered by Chin Yee, NII and NIM moderated, but our non-interest income rose 24% quarter-over-quarter to a new high with double-digit growth across quite a variety on fees, on trading and insurance income as well. To sustain our NII, we are focused on asset growth. I did mention before in some of the other briefing, interest rate cycles, there are always interest rate cycles. They're always up and down. You cannot rely on high interest rate to generate a wider margin.

Helen Wong: I think we achieved this despite a declining shipment environment through a few things. I think the first thing I have to mention is the ability of our diversified business pillars, right? Producing or generating balanced earnings through economic cycles. As covered by Chin Yee, NII and NIM moderated, but our non-interest income rose 24% quarter-over-quarter to a new high with double-digit growth across quite a variety on fees, on trading and insurance income as well. To sustain our NII, we are focused on asset growth. I did mention before in some of the other briefing, interest rate cycles, there are always interest rate cycles. They're always up and down. You cannot rely on high interest rate to generate a wider margin.

So a few things I think the first thing has to make sure. It's the ability of our diversified business pillows right and are producing are generating values on a true economic cycles.

How 'bout by a couple of by changing our NII and NIM moderator, but on non interest income rose, 24% quarter on quarter to a new high.

It was double digit growth across all right.

Quite a variety on fees on train their insurance income as well.

So I'm, just Oh, and I honestly, our focus on asset growth I, just mentioned before and some of the other amazing.

Interest rate cycles that always interest rates I suppose they'll always ourselves.

You cannot rely on high interest rates are generating a wider margin. So the cost of the matter is always to focus on the books and asset growth is important to defend NII.

Helen: The crux of the matter is always to focus on growth. Asset growth is important to defend the NII. Equally important is to manage the funding costs. Growing deposits in the right manner, especially lower cost deposits, is key as well. I think we have been able to, and we continue to, focus on driving regional account openings for corporates and also for commercial banking customers and capturing a lot more cash management mandates. Cash management mandates are important as they bring in the money and the operating account are normally not fixed deposits because they work on it. Indeed, as you gather the cash management mandate, that means the remittances, the epics, everything comes in as well. This is what is important.

Helen Wong: The crux of the matter is always to focus on growth. Asset growth is important to defend the NII. Equally important is to manage the funding costs. Growing deposits in the right manner, especially lower cost deposits, is key as well. I think we have been able to, and we continue to, focus on driving regional account openings for corporates and also for commercial banking customers and capturing a lot more cash management mandates. Cash management mandates are important as they bring in the money and the operating account are normally not fixed deposits because they work on it. Indeed, as you gather the cash management mandate, that means the remittances, the epics, everything comes in as well. This is what is important.

But equally important is to manage the funding costs so of growing deposits in the right manner, especially the low cost deposits is key as well. So I think we have been able to and will continue to focus on driving regional account openings for corporates and also fall.

Commercial banking customers.

Capturing a lot more cash management mandates cash management mandates are important as they are bringing the money adult printing a call a normally are not fixed deposits because they work on that.

And do it as you got like a cash management that gave that page the remittances that ethics everything comes in as well so.

This is what is important.

So a robust noninterest income also reflected resolves all piled stretches your actions to strengthen our franchise.

Helen: Our robust non-interest income also reflected results of our strategic actions to strengthen our franchise, be it in wealth and be it in our cross-border capital flow, sustainability, as Chin Yee has mentioned. Our sustainable finance keep growing well, and also some of the newer economy customers that we're able to start to bank with more and more. Wealth management strategy, of course, continue to play out positively. We are well-positioned for long-term growth. As shared by Chin Yee, net new money for Q3 is SGD 12 billion. This is quite good, well spread across and contributed by all segments. By that we mean the private banking side, our Premier Private, and our Premier customer wealth segments.

Helen Wong: Our robust non-interest income also reflected results of our strategic actions to strengthen our franchise, be it in wealth and be it in our cross-border capital flow, sustainability, as Chin Yee has mentioned. Our sustainable finance keep growing well, and also some of the newer economy customers that we're able to start to bank with more and more. Wealth management strategy, of course, continue to play out positively. We are well-positioned for long-term growth. As shared by Chin Yee, net new money for Q3 is SGD 12 billion. This is quite good, well spread across and contributed by all segments. By that we mean the private banking side, our Premier Private, and our Premier customer wealth segments.

At a wealth I would be there in our cross border capital flows, especially in the books. He has such an yes mention off a simple finance.

Well and also some of the newer economy customers that we're able to stop to bank with more and more.

Hum wealth management structure of course continues to play out positively we are well positioned for long term growth Chevron to me that your money for the first quarter is a Saint Paul dollars 12 billion.

We thought this is a quite well.

Well spread across and contributed by all segments by that remain the private banking side, our premia buses and a premier customer while the.

Hum.

Courtney wealth management fees and income grew to record levels of the sustained momentum across all segments as well and product channels of which only talk about all investing in more relationship managers, but all our wealth platform has been very effective for our customers and engaged.

Helen: Quarterly, wealth management fees and income grew to record levels, with sustained momentum across all segments as well and product channels. We do talk about our investing in more relationship managers, but our wealth platform has been very effective for our customers. Indeed, whenever we come out with new products, we will be able to apply across our wealth platform for different segments. Of course, we check the suitability, right? That means whenever we invest in anything, we can consider to launch on the same platform, which makes our channels very effective. We continue to deepen our regional private banking and Premier Banking franchise. RM bench strength. We talk about our private banking and also our PPC segment having more RMs.

Helen Wong: Quarterly, wealth management fees and income grew to record levels, with sustained momentum across all segments as well and product channels. We do talk about our investing in more relationship managers, but our wealth platform has been very effective for our customers. Indeed, whenever we come out with new products, we will be able to apply across our wealth platform for different segments. Of course, we check the suitability, right? That means whenever we invest in anything, we can consider to launch on the same platform, which makes our channels very effective. We continue to deepen our regional private banking and Premier Banking franchise. RM bench strength. We talk about our private banking and also our PPC segment having more RMs.

Whenever we come out with a new product.

We will be able to apply itself out well praful.

Different segments of course, we check, especially but its a suitability right. So box that's up minutes whenever we invest in anything of a kind of constant dollar to launch on the same platform, which makes our China was very effective.

We continue to deepen our regional profit by hitting a premier banking franchise.

Our unbound strings, we talk about our private banking and also our PPC affect them, having more hours, but I think importantly is the products that we develop and bison advisory capabilities across the wealth spectrum, including insurance.

Helen: I think importantly is the products that we develop and the advisory capabilities across the wealth spectrum, including insurance. I think productivity also is another key. Recently we did announce our private bank using AI to help our RMs to do KYC and which significantly shorten the time spent, meaning they have more time facing the client, but will be continue to be effective and productive. Trading income, we're happy with it as well, rose 38% QoQ. It's now above SGD 500 million in Q3. As customers grow, our treasury income hits an all-time high. This is again both for wealth and also for corporate customers as we build on cross-selling as one group. This is not just in Singapore, but across our geographies as well.

Helen Wong: I think importantly is the products that we develop and the advisory capabilities across the wealth spectrum, including insurance. I think productivity also is another key. Recently we did announce our private bank using AI to help our RMs to do KYC and which significantly shorten the time spent, meaning they have more time facing the client, but will be continue to be effective and productive. Trading income, we're happy with it as well, rose 38% QoQ. It's now above SGD 500 million in Q3. As customers grow, our treasury income hits an all-time high. This is again both for wealth and also for corporate customers as we build on cross-selling as one group. This is not just in Singapore, but across our geographies as well.

Our productivity also is another T. A recently, we did a knowledge all profit by using AI to have all of our items to go to I think.

Of which significantly shortens the time span billing day have more times, they say the clients.

But will it be continued to be effective and productive.

Trading income, we're happy with it as well rose 48% Q on Q. It's now about 500 million in the fourth quarter as customer flow of Treasury income keeps our all time high ambitious again, a full fall well and also for corporate customers as we build on cross selling as one group.

And this is not just in Singapore, but across all geographies as well.

Insurance profit contribution from GE was up 50% to our view of G engine is working on increasing collaboration with all of the whole group.

Helen: For insurance, a profit contribution from GE was up 50% QoQ. GE indeed is working on increasing collaboration with the whole group. I would say insurance plays an essential role in our wealth management business. We have also seen more insurance policy working together with the trust side, to as a way to protect the wealth of our customer. We always talk about wealth continuum. This is what we have been working on, and it is important that we continue to have that. Cost-to-income ratio is around 40%. Of course we exercise quite a good cost discipline as well, and important to continue to invest in our business, in our people and also in technology.

Helen Wong: For insurance, a profit contribution from GE was up 50% QoQ. GE indeed is working on increasing collaboration with the whole group. I would say insurance plays an essential role in our wealth management business. We have also seen more insurance policy working together with the trust side, to as a way to protect the wealth of our customer. We always talk about wealth continuum. This is what we have been working on, and it is important that we continue to have that. Cost-to-income ratio is around 40%. Of course we exercise quite a good cost discipline as well, and important to continue to invest in our business, in our people and also in technology.

I will say insurers plays an essential role in our wealth management business.

We have also seen a more insurance policy, you're working to get that out with.

With the tough side.

To Oh as a way to protect.

The wealth of customer so we always talk about wealth continuum pieces, what we have been working on and it is important that we continue to have Oh.

So cost to income ratio is around 40%. Unfortunately for the exercise quite a good cost discipline as well.

Important to continue to invest in our business.

People and also in technology.

Is it good for future growth.

Helen: This is indeed for future growth. Asset quality is sound. NPL ratio held steadily at 0.9% since June 2024. We are closely watching risk arising from trade tariffs. We've talked about it for the last 3 quarters already. I think there is of course potential impact. I think we have been tracking well. Our customers have been managing quite well as well. One sector we remain particularly cautious, of course, Hong Kong Ching Yi is a question that some of you will raise. Indeed, we have been quite cautious. We're comfortable with current level of allowance coverage. I think 160% as a NPL coverage is quite satisfactory.

That's a quality some NPL ratio how does that theory.

Helen Wong: This is indeed for future growth. Asset quality is sound. NPL ratio held steadily at 0.9% since June 2024. We are closely watching risk arising from trade tariffs. We've talked about it for the last 3 quarters already. I think there is of course potential impact. I think we have been tracking well. Our customers have been managing quite well as well. One sector we remain particularly cautious, of course, Hong Kong Ching Yi is a question that some of you will raise. Indeed, we have been quite cautious. We're comfortable with current level of allowance coverage. I think 160% as a NPL coverage is quite satisfactory.

Four 9% since June 'twenty 'twenty, four and so we are closely watching with a rising from trade tariffs, but we've talked about it for the last three quarters.

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What effectively was maybe particularly cautious of course, our Hong Kong Xiaomi is the questions that some of you will raise but it was just a we.

We have to be quite cautious.

We're comfortable with current level of allowance coverage I think 160%.

S. A NPL coverage is quite satisfactory.

And then cooperating on performing loans.

Okay.

Helen: Coverage on performing loans is at 0.9%. Our loans will also grow, I think 7% and 4% on a constant currency basis. We have gained a market share in Singapore mortgages. Just through for one example, we have a partner care program, which we work very closely with property agents and to encourage them to bank with us more and also through their referral customers and mortgages to us as well. For corporates, we continue to expand deepening relationships with new to bank customers as well as supporting customers across our international network. That is not limited to ASEAN and Greater China, but through our major international branches as well. I'll pass to Teck Long later to talk a bit about that.

Helen Wong: Coverage on performing loans is at 0.9%. Our loans will also grow, I think 7% and 4% on a constant currency basis. We have gained a market share in Singapore mortgages. Just through for one example, we have a partner care program, which we work very closely with property agents and to encourage them to bank with us more and also through their referral customers and mortgages to us as well. For corporates, we continue to expand deepening relationships with new to bank customers as well as supporting customers across our international network. That is not limited to ASEAN and Greater China, but through our major international branches as well. I'll pass to Teck Long later to talk a bit about that.

Although this will also grow I think 7% and focus on the constant currency basis, we have gained market share in Singapore mortgages.

As Joshua or one example, where you have a partner program, which we work very closely with pop to agents and to encourage them to find with us more.

I'm also sure that would be federal customers and mortgages to us as well.

Corporates are we continue to expand dependent relationships with new to bank customers.

To support any customer across our international networks. So that is not limited to I'll say go to China, but true.

Our major international branches as well Oh, I'll pause to take long later to talk about that.

Good thing to pay you should of course, we always say, there's uncertainty and starting to become more complex as well.

Helen: Flipping the page, of course, we always say there's uncertainty. Uncertainty become more complex as well. Happy to say that global trade and most major economies have shown signs of resilience now. Of course, this year in particular supported by some frontloading for trade and also, technology upcycling, particular for Asia. For this year, we are keeping to our previous guidance on our financial numbers. Except for NIM, we want to and we are changing it to around 1.9% from the previous 1.9% to 1.95%. Looking ahead, I think as we said, operating conditions continue to be complex and 2026 may see slower economic growth across various countries and geographies. Of course, trade policies can continue to shift.

Helen Wong: Flipping the page, of course, we always say there's uncertainty. Uncertainty become more complex as well. Happy to say that global trade and most major economies have shown signs of resilience now. Of course, this year in particular supported by some frontloading for trade and also, technology upcycling, particular for Asia. For this year, we are keeping to our previous guidance on our financial numbers. Except for NIM, we want to and we are changing it to around 1.9% from the previous 1.9% to 1.95%. Looking ahead, I think as we said, operating conditions continue to be complex and 2026 may see slower economic growth across various countries and geographies. Of course, trade policies can continue to shift.

But I'm happy to say that propylene trade.

Most major economies have shown signs of affiliates.

And of course this year in particular supported by some Frontloading portrait and also our technology up cycling particular for Asia.

For this year, we are keeping to our previous guidance.

On all financial numbers, except for them, we want them to and we are changing it to around one 9% on the previous $1, 90% to 195%.

Looking ahead I think.

US reset operation operating conditions continue to be complex and funding mix may seem slow economic growth across our various countries and geographies.

And of course trading policy niche chemical and future shift drove political attention so I'll field that.

That would have an implication on the.

Helen: Geopolitical tensions are still there, that could have an implication on the demand and supply chains. For our key markets, we feel, we do feel that the fundamentals remain resilient, and we are positive on the mid to longer term growth prospects as well. Also want to report on our strategy. I think we refresh our corporate strategy in 2022. We talk about a three-year plan of incremental revenues of SGD 3 billion. Glad to report by end of September we have already surpassed that goal of SGD 3 billion. Hopefully we'll end the three-year plan quite ahead. Trusting is ahead of schedule, but also above plan. That means, the initiatives we all put together, and how we work as one group has borne fruit.

Helen Wong: Geopolitical tensions are still there, that could have an implication on the demand and supply chains. For our key markets, we feel, we do feel that the fundamentals remain resilient, and we are positive on the mid to longer term growth prospects as well. Also want to report on our strategy. I think we refresh our corporate strategy in 2022. We talk about a three-year plan of incremental revenues of SGD 3 billion. Glad to report by end of September we have already surpassed that goal of SGD 3 billion. Hopefully we'll end the three-year plan quite ahead. Trusting is ahead of schedule, but also above plan. That means, the initiatives we all put together, and how we work as one group has borne fruit.

Demand and supply chains are faulty markets are but.

But we feel we do feel that the fundamentals even with Covid and we are positive on the mid to longer term gross prospects as well.

Hum.

Also wanted to report on our strategy I think maybe refresh our corporate structure and try to try not to talk about a three year plan to all of our incremental revenues of 3 billion.

Oh glad to report by end of September we have already surpassed that goal of $3 billion. So hopefully that will add the.

Three NUPLAZID quite quiet.

What I'm, saying is I haven't sat through and also above plan.

That means the initiate chips with all puts you got though.

And how we work as one group has that bear fruit.

And and I think this will shape up well.

Helen: I think this will shape up well as a firm foundation to capture growth opportunities going ahead as well. We talk about growth pillars, but also fundamentally what is important is our one group approach, and this is an important enabler. Today, we work much more closer as one group. That means not just collaboration, but synergy. Synergy is both in business volumes, more customer, and also synergy in terms of cost savings as well. This is important because it is as we have more customer and they bank with us on more products and more and more countries, and more effectively because we also make digital a very important offering. I think we are managed to work as one group together.

Foundation to capture growth opportunities as.

Helen Wong: I think this will shape up well as a firm foundation to capture growth opportunities going ahead as well. We talk about growth pillars, but also fundamentally what is important is our one group approach, and this is an important enabler. Today, we work much more closer as one group. That means not just collaboration, but synergy. Synergy is both in business volumes, more customer, and also synergy in terms of cost savings as well. This is important because it is as we have more customer and they bank with us on more products and more and more countries, and more effectively because we also make digital a very important offering. I think we are managed to work as one group together.

As well.

D. We talk about broker loves but also fundamentally what is important is our running room approach.

This is important in Lagos de.

Today, we work much more closely as one group that means not just collaboration for synergy.

Synergy is fold in business for them, a more customer and also our synergy and cost.

Cost savings as well.

So this is important because it just as we have more customer and they find with us on more products and more and more countries and more effectively as we possibly also I'll make a digital a bedroom important offering so I think we homage to what this one group together.

We're well placed for the future and the job because we still have a very strong balance sheet position and our business franchise.

Helen: We're well-placed for the future and because we still have a very strong financial position and a business franchise. For 2025, we stick to our commitment to deliver the 60% of dividend payout ratio, and we will complete the share buyback plan by end of 2026. We still that. We stay committed. May I now hand over to Teck Long to talk a bit more about the business and the business environment. Thank you. Thank you, Helen. Just closer to... Yeah. Thank you, Helen. I will share two key factors which we are monitoring. One factor is obviously the tariffs, and I would say it's not just the tariffs, but also the broader trade restrictions, other than tariffs.

Helen Wong: We're well-placed for the future and because we still have a very strong financial position and a business franchise. For 2025, we stick to our commitment to deliver the 60% of dividend payout ratio, and we will complete the share buyback plan by end of 2026. We still that. We stay committed. May I now hand over to Teck Long to talk a bit more about the business and the business environment.

Oh pardon me is running five we stick to our commitment to live up to 60% of different doesn't pay out ratio.

So we rolled some things the share buyback front by end of two.

2026 understood that so we stay totally safe.

So we are now handles us who would take long to talk a bit more about the business and the business environment.

Thank you.

Yeah.

Teck Long: Thank you. Thank you, Helen. Just closer to... Yeah. Thank you, Helen. I will share two key factors which we are monitoring. One factor is obviously the tariffs, and I would say it's not just the tariffs, but also the broader trade restrictions, other than tariffs.

You would think so.

Thank you Heather.

Oh sure two key factors, which we are holding 330, so obviously the tariffs.

It's still just the heavy spot was hold the broader trade restrictions.

Paresh.

If you would add the people you've held at every center estrogen and 40 from the truth, Okay, well. They can call me. So what could you say it could be every ship that.

Helen: We feel that the deeper impact of the tariffs and trade restriction has not been fully filtered through the broader economy. We are watching this very closely. Having said that, some sectors are still growing, for example, digital infrastructure, domestic construction boom. We see these sectors continue to grow. Indeed, from a different angle because of trade tariff, where materials come from, for example, a large market, a large manufacturer market like China, the input cost could be lower for some of these corporates in these industries. The second big factor is interest rate. Interest rate helps in the sense that the wealth customers start to relook at onboarding risk in their investment. Also for corporates, it has a effect on them evaluating the hurdle rates for investment.

Teck Long: We feel that the deeper impact of the tariffs and trade restriction has not been fully filtered through the broader economy. We are watching this very closely. Having said that, some sectors are still growing, for example, digital infrastructure, domestic construction boom. We see these sectors continue to grow. Indeed, from a different angle because of trade tariff, where materials come from, for example, a large market, a large manufacturer market like China, the input cost could be lower for some of these corporates in these industries. The second big factor is interest rate. Interest rate helps in the sense that the wealth customers start to relook at onboarding risk in their investment. Also for corporates, it has a effect on them evaluating the hurdle rates for investment.

Those are still growing quite so good you state infrastructure.

The construction boom so we see these fixes.

Growth indeed.

Well, let me first.

Because of that.

Oh, where U S cultural ease up a lot from a case a luxury manufacturer of electric.

The input cost could be lower.

Corporates.

In these industries.

So it can be factories, so street interest rate.

Helps.

So well customers, who we look at Onboarding risk in our investment.

So for corporate yes, you bet on them you Barry.

Great Sports investment.

Let me say that the overall environment two clubs are cautious investing.

Helen: Having said that, the overall tone of the environment is still cautious in investing. I will pass that back to the colleague.

Teck Long: Having said that, the overall tone of the environment is still cautious in investing. I will pass that back to the colleague.

So I'll step back to Colleen.

Trucking too great you open the floor now for questions.

[Analyst]: Yeah, sure.

Operator: Yeah, sure.

Helen: Okay. Great. We open the floor now for questions. Individuals?

Helen Wong: Okay. Great. We open the floor now for questions. Individuals?

Maybe you could just and you don't fill them in children.

Well basically all of it.

[Analyst]: Any of you?

Operator: Any of you?

Bush of course.

Helen: Well, let's begin with Henchi.

Operator: Well, let's begin with Henchi.

Uh huh.

[Analyst]: Okay.

Henchi Chen: Okay.

Great.

Helen: One answer. To start off, what does this mean for OCBC moving forward, and what's the outlook for the next Q? Which one? Sorry, can you repeat that, the first part? What do you mean?

Yeah Yeah.

To start off on what does this meaningful would you because you're moving forward with our plan and explore that.

Henchi Chen: One answer. To start off, what does this mean for OCBC moving forward, and what's the outlook for the next Q? Which one? Sorry, can you repeat that, the first part? What do you mean?

Hmm.

It was about the.

What does it mean.

What what the assumption there.

They tell us.

Okay.

It's a it's a exciting set of numbers are we are happy reflect on some of the investments on the commitments made in Nepal could you talk about the corporate strategy, where they're focusing on and indeed are improving for the wealth segment. In particular, we felt we are hiring more around this I remember last quarter.

[Analyst]: Results.

Henchi Chen: Results.

Helen: Results or what it means for us. Okay. It's a exciting set of numbers. We are happy. Reflect on some of the investments and the commitment we have made in the past. We do talk about the corporate strategy, where we are focusing on, and indeed, improving. For the wealth segment in particular, we said we are hiring more RMs. Remember last quarter, we did talk about we achieved the number in particular for the private bank. We achieved the number earlier than we expected. Yeah. Meaning we hire faster than we hoped. The use of AI has generally a lot more some cost saving, meaning we become all more productive in a sense. We hope that this is a good foundation going forward.

Helen Wong: Results or what it means for us. Okay. It's a exciting set of numbers. We are happy. Reflect on some of the investments and the commitment we have made in the past. We do talk about the corporate strategy, where we are focusing on, and indeed, improving. For the wealth segment in particular, we said we are hiring more RMs. Remember last quarter, we did talk about we achieved the number in particular for the private bank. We achieved the number earlier than we expected. Yeah. Meaning we hire faster than we hoped. The use of AI has generally a lot more some cost saving, meaning we become all more productive in a sense. We hope that this is a good foundation going forward.

We did talk about we achieved the number in particular for the private banking, which used a number other than we expected.

Namely, we hi, Oscar.

After that Lee on behalf of.

The use of AI has generally.

More some cost anything meaning when you become more productive in a sense. So we hope that this is a good foundation going forward fourth.

Fourth quarter citizens are we going to only announce by next year and one month into the fourth quarter.

Helen: Q4, since we're going to only announce by next year and we're only one month into the Q4. Of course, we hope momentum is still there, but generally, the last quarter is a more quiet time for wealth. Normally it is the case. We keep some of our guidance, meaning we say loan growth can still be mid-single digits. We continue to try to defend our NII. Again, I think the non-interest income sees most results from what we have invested in the past. We hope this is laying a good foundation for 2026. Okay.

Helen Wong: Q4, since we're going to only announce by next year and we're only one month into the Q4. Of course, we hope momentum is still there, but generally, the last quarter is a more quiet time for wealth. Normally it is the case. We keep some of our guidance, meaning we say loan growth can still be mid-single digits. We continue to try to defend our NII. Again, I think the non-interest income sees most results from what we have invested in the past. We hope this is laying a good foundation for 2026. Okay.

Of course, we hope momentum is do that but generally the.

The last quarter. It is a more quiet time for well.

Normally it is the case.

And we have a change out and keep some of our guidance, namely Samsung can still be up mid single digits.

We continue to try to defend.

Our NII.

But again I think the non interest income six months' results from what we have invested in the past.

So we hope this is a lagging a good foundation for 2026.

Yeah.

Okay, because you don't know shortly.

So E.

Hi.

[Analyst]: One more question.

Operator: One more question.

If this thing.

Helen: Sure.

Helen Wong: Sure.

[Analyst]: With AI assisting, like I say, helping RMs in KYC, what is the impact on jobs for OCBC?

[Analyst 1]: With AI assisting, like I say, helping RMs in KYC, what is the impact on jobs for OCBC?

Like all other things being healthy.

And here and here so.

And same thing on tops.

If we help although that's great right because they have all tie into.

Helen: If we help RMs, that's great, right? They have more time to talk to customer, they're able to generate business volume. I think I also mentioned in the past, with the use of technology, you have not actually seen there's any need for us to say that we have to release people. First thing is we continue to train our people so that they will be able to take on more complicated jobs. The second thing is, you invest in technology, it brings on more volume. You also need the people to do the job. There's always natural attrition. I wouldn't say that because of AI, suddenly there will be a loss of job. We haven't seen that. I do not expect it in the foreseeable future. Anyone else?

Helen Wong: If we help RMs, that's great, right? They have more time to talk to customer, they're able to generate business volume. I think I also mentioned in the past, with the use of technology, you have not actually seen there's any need for us to say that we have to release people. First thing is we continue to train our people so that they will be able to take on more complicated jobs. The second thing is, you invest in technology, it brings on more volume. You also need the people to do the job. There's always natural attrition. I wouldn't say that because of AI, suddenly there will be a loss of job. We haven't seen that. I do not expect it in the foreseeable future.

It just helps the customer so they are able to try to emphasize one of them.

I think I also mentioned in the past with the use of technology.

Not actually seen Oh, and they need for us to say that we had to release people.

First thing is because we continue to train our people so that they will be able to take on more complicated drops.

But the second thing is you had nothing for luxury is brings on more one to also need for people to do the job.

And there's always natural attrition.

So I wouldn't say that because of AI.

That's something that will be a lot of chop, we haven't seen that and I do not expect it and stuff in the foreseeable future.

Anyone else.

Sure forget.

Operator: Anyone else?

In Q2.

[Analyst]: Me too. Don't forget.

[Analyst 2]: Me too. Don't forget.

So one question I had was how critical is wealth management.

Helen: Go.

Helen Wong: Go.

[Analyst]: Thank you. One question I had.

[Analyst 2]: Thank you. One question I had.

As for the strategy right now, especially as lending margins compress and then my second question is you know how.

[Analyst]: How critical is wealth management to Singapore's growth strategy right now, especially as lending margins compress? My second question is, you know, how do you balance the growth opportunity from ultra-wealthy clients with heightened regulatory scrutiny around money laundering and sanctions compliance?

[Analyst 2]: How critical is wealth management to Singapore's growth strategy right now, especially as lending margins compress? My second question is, you know, how do you balance the growth opportunity from ultra-wealthy clients with heightened regulatory scrutiny around money laundering and sanctions compliance?

How do you balance the growth opportunity from ultra wealthy clients with heightened regulatory scrutiny on money laundering infections.

It was really Youre also referring to wealth.

And you also powers own modules.

Helen: The first one, you are also referring to wealth.

Helen Wong: The first one, you are also referring to wealth.

[Analyst]: Mm-hmm.

[Analyst 2]: Mm-hmm.

Mostly just how critical this wealth management to Singapore bags right now our strategy.

Helen: You ask about loan margins?

Helen Wong: You ask about loan margins?

[Analyst]: No. mostly just how critical is wealth management to Singapore banks right now as strategy?

[Analyst 2]: No. mostly just how critical is wealth management to Singapore banks right now as strategy?

Our wealth management has been a very important also in our own corporate strategy is a very important and Oh pillar.

Helen: Oh. I think, wealth management has been a very important. In our own corporate strategy, it's a very important growth pillar. The reason being that, Asia is getting more affluent over the years, Singapore definitely is the center in particular for ASEAN. Singapore is a highly rated country, even you have seen over COVID or some uncertainty in the world, actually, there will be net new money coming into the country. That's why this is a very important growth pillar for Singapore banks. In particular, most research will say that the wealth business will continue to grow like a high single digit or even double digit, right, over the next 5 years or so.

Helen Wong: Oh. I think, wealth management has been a very important. In our own corporate strategy, it's a very important growth pillar. The reason being that, Asia is getting more affluent over the years, Singapore definitely is the center in particular for ASEAN. Singapore is a highly rated country, even you have seen over COVID or some uncertainty in the world, actually, there will be net new money coming into the country. That's why this is a very important growth pillar for Singapore banks. In particular, most research will say that the wealth business will continue to grow like a high single digit or even double digit, right, over the next 5 years or so.

The reason and the reason being that our.

Asia is getting more affluent over the years and so think about us in that it is sometimes a particular fall off here.

And our wealth manager in St. Paul.

He is a highly rated country and even you have seen over COVID-19 or some uncertainties of well actually that will be a net new money coming into the country. So that's why this is a very important both to the or Singapore.

And in particular, most research would say that.

The wealth business will continue to both like a high single digit or even double digit rate over the next five years.

So that is why it is important.

When we say it is important that means we should be able to handle business in a fair manner, meaning that you sell to a customer well, but you of course, you stick to your laws and regulations and also we uphold the highest fastest rate as well.

Helen: That is why it is important. When we say it is important, that means we should be able to handle business in a fair manner. Fair manner, meaning that you serve your customer well, but you of course you stick to your laws and regulations. Also, we uphold to the highest standards, right? As because we are responsible to not just to our regulators or rules and regulation, it's to our stakeholders as well, right? We defend our reputation, we defend our business franchise. When you link that into the second question, how do you balance that? I wouldn't even call it a balancing act.

Helen Wong: That is why it is important. When we say it is important, that means we should be able to handle business in a fair manner. Fair manner, meaning that you serve your customer well, but you of course you stick to your laws and regulations. Also, we uphold to the highest standards, right? As because we are responsible to not just to our regulators or rules and regulation, it's to our stakeholders as well, right? We defend our reputation, we defend our business franchise. When you link that into the second question, how do you balance that? I wouldn't even call it a balancing act.

The cost of a young responsible into not just to our regulators all of our rules and regulation is to all stakeholders as well right we defend our reputation with.

We defend our business franchise. So when you lease that just to the second question is how do you bother and stuff.

I wouldn't even call. It a balancing act we strongly up here. So of course, we have to adhere to our rules and regulations, but it is not rules and regulations that.

Helen: Of course, we have to adhere to rules and regulations, but it is not rules and regulations that are things that are keeping us from not doing business. Rules and regulation is there. If there's no rules and regulations, how do people conduct business? That's a fundamental. Adhering to rules and regulations, there's no negotiation. Yeah. It is about how do you use your people, use your technology to identify what is not suitable. KYC is a very important thing, and it doesn't mean that if you do KYC, you cannot put clients on. KYC is the way for us to keep away not suitable clients, right? Or those... I don't think it's a balancing act.

Helen Wong: Of course, we have to adhere to rules and regulations, but it is not rules and regulations that are things that are keeping us from not doing business. Rules and regulation is there. If there's no rules and regulations, how do people conduct business? That's a fundamental. Adhering to rules and regulations, there's no negotiation. Yeah. It is about how do you use your people, use your technology to identify what is not suitable. KYC is a very important thing, and it doesn't mean that if you do KYC, you cannot put clients on. KYC is the way for us to keep away not suitable clients, right? Or those... I don't think it's a balancing act.

Thinking about keeping us from I'm not doing business with a regulation if it's bad.

And if there's no rules and regulations, how do people come up with it so that's a fundamental.

He ran to loosen regulations, that's no negotiation.

And then it just about how do you use your people use our technology to identify what is not suitable.

Kicked when I say, it's a very important thing and it doesn't mean that if you do take Washington, you cannot put on but <unk> is the way for us to keep away not suitable clients right of those and so I don't think it's a balancing act because we need to continue to.

And that is how we conduct our people I see the world has become a lot more from Prepays. It. That's why AI comes in has to be on mute.

Helen: It is we need to continue to invest in how we conduct our KYC. The world has become a lot more complicated, that's why AI comes in handy. You feed AI information, it can summarize much better than you put in a lot of manual hours to do it, right? I want to recap that this is not a balancing act. You just have to do it. That doesn't stop us from able to put in more customers and offer our service.

Helen Wong: It is we need to continue to invest in how we conduct our KYC. The world has become a lot more complicated, that's why AI comes in handy. You feed AI information, it can summarize much better than you put in a lot of manual hours to do it, right? I want to recap that this is not a balancing act. You just have to do it. That doesn't stop us from able to put in more customers and offer our service.

AI information it can summarize much at all and you put in a long menu of hours to do it right.

But I want to we kept off this is not about anything yet.

Just have to do it but it doesn't stop us from able to put in more customers and all of our service.

Meet honestly I'm telephones.

So I have a simple.

[Analyst]: Any on this question? From Xiaofeng? Yeah.

Operator: Any on this question? From Xiaofeng? Yeah.

Because you just mentioned that our digital infrastructure.

[Analyst]: I have a question for Daniel. Because you just mentioned that digital infrastructure is growing sector. A significant portion of investment now is . Do you foresee any possible bubble or overheating, and how do you monitor?

Xiaofeng Chen: I have a question for Daniel. Because you just mentioned that digital infrastructure is growing sector. A significant portion of investment now is . Do you foresee any possible bubble or overheating, and how do you monitor?

We are a sector.

A significant portion.

Indefinitely.

So do you foresee that meet our people and.

Oh do you want to.

Hum.

I think that you might be sustained.

The destocking for us because of the trends of companies.

Teck Long: I think the demand will be sustained. The digital infrastructure is needed because of the trends of companies adopting digitization in their processes. It also has to do with consumer behaviors, individual behaviors, surfing the net using video services as opposed to just searching on Google for information. All these are data intensive, and these fuel the growth of AI. Sorry, fuel the growth of digital infrastructure. Now, AI is even more demanding for data center. This is the beginning of the AI wave, and I think the trend will sustain.

In addition in depth processes.

So it has to believe consumer behaviors <unk> UBS Sophie that theyre using bead Yosef. He says I suppose is just such a a mood of all information. So these would be tied to us even if you were to grow it.

And therefore.

Sorry, if you were to go up basically infrastructure.

I see but multi money or it doesn't go. So this is the beginning of the week.

<unk>.

The trend was upbeat.

Okay.

You then go to each of us and welcome to U S.

[Analyst]: Okay. Sorry. Maybe I go to Michelle first for... I shall continue with you. Yeah.

Operator: Okay. Sorry. Maybe I go to Michelle first for... I shall continue with you. Yeah.

I have one question on the net new money.

Opinion, and it's about the run rate.

[Analyst]: I have one question on the net new money inflow. It's SGD 12 billion, and it's about the run rate of about SGD 4 to 5 billion in the past 2 quarters. I was just wondering what changed. In terms of the geographies, where are they coming from?

Michelle Majurey: I have one question on the net new money inflow. It's SGD 12 billion, and it's about the run rate of about SGD 4 to 5 billion in the past 2 quarters. I was just wondering what changed. In terms of the geographies, where are they coming from?

About four to five been done in the past two quarters I'm just wondering what changed.

And in terms of the geographies around the country.

Yeah.

It's a good number of course and it's also a result of.

Helen: It's a good number, of course. It's also a result of some of the early work we have done. The hiring of the new RMs are beginning to bear fruits, right? Because we did say that we accelerated the hiring a bit more for the last two years. With that, sometimes people say, Is this the new normal? I think, you cannot see it as like what you call a new normal, because a lot depends on the market conditions as well. When the interest rate coming lower also help because customers may actually be more active.

Helen Wong: It's a good number, of course. It's also a result of some of the early work we have done. The hiring of the new RMs are beginning to bear fruits, right? Because we did say that we accelerated the hiring a bit more for the last two years. With that, sometimes people say, Is this the new normal? I think, you cannot see it as like what you call a new normal, because a lot depends on the market conditions as well. When the interest rate coming lower also help because customers may actually be more active.

Some of the some of the early work we've done and.

The hiring of the new our heavy side beginning to bear fruit right. Because we just say that we are ready to test the hiring a bit more for the last two years.

What that is.

Sometimes people say is this the new normal I've seen I've seen you'd have us at a snake and what <unk>.

A new normal because of both the patents on the on the market conditions as well.

And when interest rates come in a little well also have the cost customers may be actually be more active and if you have good products and then of course, they give money put money into OSB seafood because you can offer me a good product.

Helen: If you have good products and then of course they said, I give money, put money into OCBC Group because you can offer me good products and give me good investment plans. Generally, Q4 is a bit more quiet, as we all always see. Don't take it that SGD 12 billion will repeat in Q4 necessarily, okay? As to the spread, it's quite well spread among our 3 segments that we report, meaning the private banking side, and then our premium, also Premier Banking. It also comes from various places. It's not limited to... I'm not to say that this particular 1 country contributes the most. Yeah, John. Go ahead.

Helen Wong: If you have good products and then of course they said, I give money, put money into OCBC Group because you can offer me good products and give me good investment plans. Generally, Q4 is a bit more quiet, as we all always see. Don't take it that SGD 12 billion will repeat in Q4 necessarily, okay? As to the spread, it's quite well spread among our 3 segments that we report, meaning the private banking side, and then our premium, also Premier Banking. It also comes from various places. It's not limited to... I'm not to say that this particular 1 country contributes the most. Yeah, John. Go ahead.

Meaningful investment pledge generally fourth quarter is a bit more quiet as we are.

<unk> always seen so don't take it that the trough Belinda will repeat in the fourth quarter not necessarily okay, but S. US two the spread is quite well spread among all of us should be segments that we report meaning.

On the banking side and on our premium and also can memorize it and it also comes from various places it's not limited to I'd love to think that this particular, one country contribute the most.

Yeah.

I have two questions. The first one is what's the basis of our assumptions for the new <unk>.

Teck Long: I have two questions. The first one is, what is the basis of the assumptions for the new guidance on NIM of 1.9% and the basis of assumption? The second question is, how confident are you with the quality amid all this macro uncertainty? And do you foresee any, like, specific sector stress, for instance, like Hong Kong, CRE and all of those out there?

Guidance.

Oh, 149% at the Beach.

Cecil assumption and that's a good question is Oh.

Are you aware of it.

Or do you smoke rule uncertainty do you see any or see any like specific.

Specifics at this fast.

Like Hong Kong CRT yet.

Yeah.

I think when we provide guidance because we help in providing that guidance are you in the past in a in the interest rate cycle with no interest rate going ROA in rural Kentucky, I mean, NIM will have pressure yeah. So what we have been focusing tissue, which we described in our policies.

Helen: Yeah. I think NIM, we provide guidance because we have been providing a guidance on NIM in the past. In a interest rate cycle, as now interest rate going lower, NIM will have pressure, yeah? What we have been focusing this year, which we described in the past, is very much protecting our NII. NIM becomes like a pointer. It's not a really like a target, it is a pointer to help us to look at how, in particular, look at how we manage our funding costs and how we defend, of course, our loan margin as well.

Helen Wong: Yeah. I think NIM, we provide guidance because we have been providing a guidance on NIM in the past. In a interest rate cycle, as now interest rate going lower, NIM will have pressure, yeah? What we have been focusing this year, which we described in the past, is very much protecting our NII. NIM becomes like a pointer. It's not a really like a target, it is a pointer to help us to look at how, in particular, look at how we manage our funding costs and how we defend, of course, our loan margin as well.

I'm much are protecting our NII.

So it becomes like a.

Like a pointer.

This is not the <unk> really liked the target it is important to.

I'm going to help us to look at how in particular look at how we manage our funding costs.

How would you find and of course I'll go matches as well so I think I've seen the reason why we do want to show doses, because we have been showing them before and we don't want to Miss Guy because we do see them dropping.

Helen: I think, the reason why we do want to show this is because we have been showing NIM before, and we don't want to misguide because we do see NIM dropping in the last quarter. Which would means that the whole year, I mean, the last quarter and also the coming quarter because interest rates are coming down. That's why we want to provide an updated NIM. It is, doesn't serve as a target. We said we need to protect that NIM because I said before, interest rate cycle. I mean, we cannot control how interest rate turn, but we can control, and we can invest what we can do to bring in more volume to counter that loss.

Helen Wong: I think, the reason why we do want to show this is because we have been showing NIM before, and we don't want to misguide because we do see NIM dropping in the last quarter. Which would means that the whole year, I mean, the last quarter and also the coming quarter because interest rates are coming down. That's why we want to provide an updated NIM. It is, doesn't serve as a target. We said we need to protect that NIM because I said before, interest rate cycle. I mean, we cannot control how interest rate turn, but we can control, and we can invest what we can do to bring in more volume to counter that loss.

In the last in the last quarter of which means that the whole year I mean, the last quarter and also the dollar.

The coming quarter, because interest rates have been down. So that's why we want to provide an updated view on what.

But it just doesn't solve it for pockets, we say we need to protect.

Because I have said before interest recycle you I mean, we cannot control how how interest return, but we can control and becoming best or what we can do to bring even more why I'm. So confident that bowls and low volume also who are pointing to more volume on non interest income.

Helen: More volume also pointing to more volume on non-interest income as well. That is it. The second question is on the quality of our portfolio. We are quite comfortable. It has been The NPL ratio has been staying at 12.9%. Our coverage, I think, is quite comfortable as well. We do not see any systemic risk. There are sectors that we watch much more closer. Doesn't mean that we foresee something very bad coming up, yeah? Of course, nobody can look too far beyond. Everything is about, I think Teck Long just talked about it. We always know that there is geopolitical tension, there is trade. Every situation doesn't mean that it's entirely gone.

Helen Wong: More volume also pointing to more volume on non-interest income as well. That is it. The second question is on the quality of our portfolio. We are quite comfortable. It has been The NPL ratio has been staying at 12.9%. Our coverage, I think, is quite comfortable as well. We do not see any systemic risk. There are sectors that we watch much more closer. Doesn't mean that we foresee something very bad coming up, yeah? Of course, nobody can look too far beyond. Everything is about, I think Teck Long just talked about it. We always know that there is geopolitical tension, there is trade. Every situation doesn't mean that it's entirely gone.

Well so without is there.

The second question is on the quality of our portfolio. We are uncomfortable. It has been say at the NPL ratios and staying at about 9% a cup franchising is a quite comfortable as well.

We do not see any systemic risk.

Factors that we watch on a much more close up.

It doesn't mean that we foresee.

Something very bad coming out.

But of course, nobody can look to for hopping on everything is about I think if you can just talk about that we always know that these jokers retention that is a trade every situation's doesn't mean that it's Anthony thong and so but what we can.

Helen: What we can, what we are more comfortable is, we feel that the area we are in still offer a lot of resilience in the current economic situation. Next year may be the global growth may be slower, but if we are in more resilient regions, we hope that through the opportunities we have identified, through the work and investment we have put in, we'll be able to continue to grow our franchise and to grow our business.

What we are more comfortable is with your doctor but.

Helen Wong: What we can, what we are more comfortable is, we feel that the area we are in still offer a lot of resilience in the current economic situation. Next year may be the global growth may be slower, but if we are in more resilient regions, we hope that through the opportunities we have identified, through the work and investment we have put in, we'll be able to continue to grow our franchise and to grow our business.

Area, we are in a few ultra low resilience in make the loan.

Economic situation, it's show maybe the football bowls made lease roll up but if we are in more of a seen images, we hope that through the opportunities. We have identified through the walk on the investment that they've been able to continue to grow our franchise and to pull out business.

It's just we don't know.

A couple of questions.

[Analyst]: Sure. Go ahead.

Operator: Sure. Go ahead.

Since you've mentioned that there will be some focus on asset growth will this be rolled out and if so what what what sectors and would it also be unusual hope your securities book and if so what currencies are needs that could be that's that's one question. The second one is of course.

[Analyst]: Just a couple of questions. You mentioned that there will be some focus on asset growth. Will this be, you know, loans? If so, what sectors? Will it also be on your book, your securities book? If so, what currencies are these likely to be? That's one question. The second one is, of course, credit strength. You said that there were higher margin products. Just wondering, I'm still wondering what sort of products these were that give high margins versus what they had, I think, last year. Less, well, powerful last year. The, there's one question which I'll ask Chin Yee later. It's about the strategy over your regulatory loss allowance reserve. You have it, but one of your peers doesn't.

[Analyst 3]: Just a couple of questions. You mentioned that there will be some focus on asset growth. Will this be, you know, loans? If so, what sectors? Will it also be on your book, your securities book? If so, what currencies are these likely to be? That's one question. The second one is, of course, credit strength. You said that there were higher margin products. Just wondering, I'm still wondering what sort of products these were that give high margins versus what they had, I think, last year. Less, well, powerful last year. The, there's one question which I'll ask Chin Yee later. It's about the strategy over your regulatory loss allowance reserve. You have it, but one of your peers doesn't.

Houston, you said, that's higher margin products.

Wondering what what's the product fees.

We have higher margins versus what they had it I think.

Yeah.

Yes.

Oh from last year.

There's little question Vishal.

Can you later, it's about the strategy.

Yep.

It's all the analysis you'll have it.

One of your peers doesn't and I do understand but I don't understand the reason for it because you can't use it but you cant its not like them.

[Analyst]: I don't understand, but I don't understand the reason for it because you can't use it, right? You can't. It's not like an overlay which you can draw on if you want to boost your. I mean, yeah.

[Analyst 3]: I don't understand, but I don't understand the reason for it because you can't use it, right? You can't. It's not like an overlay which you can draw on if you want to boost your. I mean, yeah.

Oh overlaying that you could draw on if you want to show them Okay.

Let me now move it after that.

Helen: No, answer that, please.

Helen Wong: No, answer that, please.

That's it.

[Analyst]: You want me now?

Chin Yee: You want me now?

Helen: No, no. Answer that, please.

[Analyst 3]: No, no. Answer that, please.

[Analyst]: Basically asset growth then. Sure.

I felt like I said, but I want to go to comment on it.

[Analyst 3]: Basically asset growth then. Sure.

Helen: Okay. I think I start with asset growth, but I want Teck Long to comment on it. It's both our loan book, because we have onboarded more customers, especially the corporate customers as well. Offices we mentioned, we have gained a bit more market share. Of course, we want to serve customers across geographies, and which we have done quite well. When we onboard our big customers, we are able to serve them in, indeed, in different countries. Of course, we do have funding growth, which we will put into high-quality securities assets. That would be quite a bit in US dollars, but also in, of course, in Sing dollars, which is our own base currency as well. I pass to Teck Long to talk a bit about the loan growth.

Helen Wong: Okay. I think I start with asset growth, but I want Teck Long to comment on it. It's both our loan book, because we have onboarded more customers, especially the corporate customers as well. Offices we mentioned, we have gained a bit more market share. Of course, we want to serve customers across geographies, and which we have done quite well. When we onboard our big customers, we are able to serve them in, indeed, in different countries. Of course, we do have funding growth, which we will put into high-quality securities assets. That would be quite a bit in US dollars, but also in, of course, in Sing dollars, which is our own base currency as well. I pass to Teck Long to talk a bit about the loan growth.

Both of our loan book, because we have on boarded more around customers, especially the corporate customer as well, Okay. Just re mention.

Okay.

A bit more lumpy shot and Ah and of course, we want to serve customers across struck with east.

Which would have otherwise.

Some of them quite well.

Onboard customers week equaled to satcom and indeed in different countries.

And of course, we do have a funding growth, which we will put into high quantities of protein and fat.

And quite a bit in most all of that but also in the course of the $6 which is.

On base fronts here as well, so I opposed to devote to talk a bit about the logos.

So it goes to the new one.

Thank you for a choice.

Teck Long: Asset growth is certainly one of top banking franchise, and we will continue to focus on that. I think the question also has to do with the overall economy, the overall uncertainty in the economy environment at the moment. As you can see, that uncertainty has been there for quite a while. Whether you look at it from Liberation Day or caused by the spike of interest rate a couple years ago.

If you do focus on that.

Crystal also has to do with.

The overall economy.

That's a good evening.

Okay.

You can see just the beef has been dead.

Okay before depletion B, Oh, Oh quite a spike of interest.

Oh just cool.

So that'd be kicked up quite well.

See growth potential in the.

Helen: We have navigated quite well. We see growth potential in the corporate sectors where the demand is certain, like domestically driven industries like construction or even renewable energy, where usually there's involvement of the government or major energy corporates in off-taking the generation of the power. We look at it from an industry-led aspect to manage the risk. We are industry specialists who will look at these variations closely and navigate that environment. We expect continued growth in the corporate loan book. On the other aspect is really the individuals, and to some extent, the corporates as well. It relates to real estate in Singapore. Real estate in Singapore, the price is holding up and the demand for real estate continues to be there.

Teck Long: We have navigated quite well. We see growth potential in the corporate sectors where the demand is certain, like domestically driven industries like construction or even renewable energy, where usually there's involvement of the government or major energy corporates in off-taking the generation of the power. We look at it from an industry-led aspect to manage the risk. We are industry specialists who will look at these variations closely and navigate that environment. We expect continued growth in the corporate loan book. On the other aspect is really the individuals, and to some extent, the corporates as well. It relates to real estate in Singapore. Real estate in Singapore, the price is holding up and the demand for real estate continues to be there.

Corporate sectors, where.

Where the demand is still good domestically.

She's like construction or redo, but energy we're usually.

The government of Egypt.

With.

The generation of power.

Sure.

So easily.

Ive looked at April industrial aspect.

To manage the risk so good industrial specialties will look at the Spanish includes speed.

So we expect continued improvement in the corporate loan book.

Other aspect is really deep in.

And GP just.

And besides dengue corporate social it relates to divestitures.

Singapore, So just basically a book of prices moving up and down.

Olivia.

So you will lose market share in this part of tea.

Helen: We will also get our market share in this part of the loan book.

Teck Long: We will also get our market share in this part of the loan book.

Luke.

And you're about to English startup because you mentioned that you have.

[Analyst]: Ashwin, how concerned are you about the US dollar? You mentioned that you will base some of the US dollar, you will increase, you will buy US dollar treasury based on the asset, yeah, securities. How confident are you of the US dollar remaining, you know, not being depreciated?

[Analyst 3]: Ashwin, how concerned are you about the US dollar? You mentioned that you will base some of the US dollar, you will increase, you will buy US dollar treasury based on the asset, yeah, securities. How confident are you of the US dollar remaining, you know, not being depreciated?

B some of the U S. Dollar you will increase your on your thought on treasury each piece of that.

That's it.

This occurred peaceful.

Hum.

It looks like it was tied to the meeting.

No.

You can see that.

Okay.

Of course that you didn't see any deal.

Helen: Okay. I think it's an interesting question. I didn't say anything about US dollar. I think Helen made comment. Yeah. I can start with this.

Teck Long: Okay. I think it's an interesting question. I didn't say anything about US dollar. I think Helen made comment. Yeah. I can start with this.

I think.

Yeah, I guess again, if somebody just forget so do you say Oh, there's still major.

Got it.

[Analyst]: Yes, please.

Helen: This, right. US dollar is still a major reserve currency, so its use is still very prevalent. Although people may talk about the debasement trades, that's largely focused in gold. Which also from another perspective is really US dollar is still very dominant at the moment. Gold is, well, growing in prominence. It's not, it's not used for trade or day-to-day use. In that sense, from a reserve viewpoint, maybe gold has grown a little bit more in prominence because of the volume as well as the price of the gold. Generally, US dollar is still the dominant currency.

[Analyst 3]: Yes, please.

Teck Long: This, right. US dollar is still a major reserve currency, so its use is still very prevalent. Although people may talk about the debasement trades, that's largely focused in gold. Which also from another perspective is really US dollar is still very dominant at the moment. Gold is, well, growing in prominence. It's not, it's not used for trade or day-to-day use. In that sense, from a reserve viewpoint, maybe gold has grown a little bit more in prominence because of the volume as well as the price of the gold. Generally, US dollar is still the dominant currency.

So it is useless debate a blend so although our.

People talk about the <unk>.

Desktops fee focusing pool, so which also from that perspective, it's really U S police to big W.

At the moment and goal you said about green openness.

So you spoke to <unk>. So that's what we spoke to you Bob.

But it would be more because of volume.

Cool.

Generally use for these students of course.

The comfortable owning U S fish.

Yes.

[Analyst]: You're comfortable with owning US dollar treasury?

[Analyst 3]: You're comfortable with owning US dollar treasury?

Hum.

Helen: Yes.

Teck Long: Yes.

Oh, My gosh, along the journey.

[Analyst]: You have.

Yeah.

[Analyst 3]: You have.

Helen: I have a question on GE.

[Analyst 3]: I have a question on GE.

Don't think we should speak on behalf of China, They have to have it.

[Analyst]: The insurance products that.

[Analyst 3]: The insurance products that.

Helen: Yeah. I don't think we should speak on behalf of CHUBB. They have their results session. But I think it's quite normal that you stay focused, in the, in, you know, in doing your business, financing volume and margin, right? But don't think we can speak on behalf of them. I think Chee will take the RL question.

Helen Wong: Yeah. I don't think we should speak on behalf of CHUBB. They have their results session. But I think it's quite normal that you stay focused, in the, in, you know, in doing your business, financing volume and margin, right? But don't think we can speak on behalf of them. I think Chee will take the RL question.

Session.

But I think it's quite normal.

Do you stay focused on.

And.

You know is.

Do your business.

And volume and much at night, So that's something we can't speak on behalf of them.

I think can you take the middle question.

Okay.

Beyond.

[Analyst]: Yeah. Yeah. Yeah.

Operator: Yeah. Yeah. Yeah.

That is regularly treated loss not leases Lisa when you look out in peak, which we do have that.

Chin Yee: Okay. RL, that is regulatory loss allowances reserve. When you look at our NPA coverage, we do have that as part of the total allowances. How RL came about was in the past, you know, whereby there is a requirement to meet regulatory requirements to meet the regulatory allowance, sort of allowances for allowances reserved at a minimum level from a regulatory sort of requirement. Now, we have already met all that, but given the uncertainty in the environment, we decided not to release that, but instead to just keep that. We can actually release that. We don't do that in terms of the regulatory, meeting the minimum regulatory requirements anymore.

And so somebody says Oh, you don't seem about Washington.

Whereby it exists.

There's a requirement to meet regular.

Regularly tree.

And the requirements to meet regulatory allowance.

Another essential irregular.

I would just be just at a minimum level from a regulatory sort of replenishing now we have already met all that.

Your friend uncertainty by reminder, decided not to lease that is it just.

And we can actually be used that you do come to that in terms of the regulatory meeting Dominion moving neutral environment.

Okay.

Okay Renaud.

This is lance.

[Analyst]: Okay. Ready, sir? Okay. Randall, Mr. Tan.

Operator: Okay. Ready, sir? Okay. Randall, Mr. Tan.

So that's one.

I mean, two months you mentioned about some cost optimization.

[Analyst]: Hello. I think Q1 you mentioned about some cost optimizations that the bank was looking at. It's already been six months on. Can you also give an update? I mean, just looking at the net margin, it's I think about 3% operating costs. Is that sort of within expectations, you know, from the first half versus Q1?

[Analyst 4]: Hello. I think Q1 you mentioned about some cost optimizations that the bank was looking at. It's already been six months on. Can you also give an update? I mean, just looking at the net margin, it's I think about 3% operating costs. Is that sort of within expectations, you know, from the first half versus Q1?

Just looking at sort of your optics and so even though it's amendment doesn't give them that.

Oh gosh.

Let's hope within expectations.

Listen to them.

Yeah.

I think this is part of it.

Helen: I think this is part of it. Mainly when we talk about cost discipline, we have. In a way, we have grown volume without needing to hire a lot more people. I think that is one thing. Synergy, we're also saving some money on synergy because, for example, Bank of Singapore, a lot of the support functions is, we have one, actually one support function to serve both. It's a separate legal entity, but they're also served by the same support functions. GE, we've discussed a lot more, and I think in the future that's another opportunity. Very much it's also because of technology investments as well, that as we said, we do things faster.

Many of them are you when you're talking about cost discipline.

Helen Wong: I think this is part of it. Mainly when we talk about cost discipline, we have. In a way, we have grown volume without needing to hire a lot more people. I think that is one thing. Synergy, we're also saving some money on synergy because, for example, Bank of Singapore, a lot of the support functions is, we have one, actually one support function to serve both. It's a separate legal entity, but they're also served by the same support functions. GE, we've discussed a lot more, and I think in the future that's another opportunity. Very much it's also because of technology investments as well, that as we said, we do things faster.

We have.

And the way we have full volume was down into high a lot more people I think that is one thing.

Synergy will also save some money on synergy.

Because but sample balancing pool.

Our functions.

We have one actually one support functions to serve Oh, it's a separate legal entity.

They also show up at the same type of functions.

Jay will discuss a lot more.

That's another opportunity.

But very much is also a piece of technology investments as well.

We sat with you do things faster.

You can't generate more in China in malls without investing any more money.

Helen: You can generate more without investing or putting more money.

Helen Wong: You can generate more without investing or putting more money.

Yeah.

Yeah, It looks like everyone is happy.

At least adopt more information this quarter.

[Analyst]: Okay. Looks like everyone is happy.

Helen Wong: Okay. Looks like everyone is happy.

What's happening in your presentation.

Helen: At least a lot more information this quarter within your presentation where you broke it down a lot.

Helen Wong: At least a lot more information this quarter within your presentation where you broke it down a lot.

The presentation already broken down.

So a couple of clean recipe breakthroughs.

[Analyst]: Okay. It's good.

Operator: Okay. It's good.

Thank you, yes, maybe another one yeah I understand.

Helen: It's good.

[Company Representative] (Oversea-Chinese Banking Corporation): It's good.

[Analyst]: helpful to you guys. Okay, great.

Helen Wong: helpful to you guys. Okay, great.

Helen: Very useful. Good. Thank you. Yes. Yeah, I just want to say something. It's, as Ching Ching said at the beginning, this will be my last results communications with the media. It's been a very fruitful and wonderful six years being in Singapore, with a bank that I actually started with. To me, it's always this great feeling, a bank that I started with and I ended my career with. Retirement is just another phase of life. It doesn't mean that I forget about OCBC and all the wonderful people I have met and worked with, including you guys. Thank you all for the support all these years.

[Analyst 3]: Very useful.

Helen Wong: Good. Thank you. Yes. Yeah, I just want to say something. It's, as Ching Ching said at the beginning, this will be my last results communications with the media. It's been a very fruitful and wonderful six years being in Singapore, with a bank that I actually started with. To me, it's always this great feeling, a bank that I started with and I ended my career with. Retirement is just another phase of life. It doesn't mean that I forget about OCBC and all the wonderful people I have met and worked with, including you guys. Thank you all for the support all these years.

I just wanted to say something.

That's.

Essentially it sounds like the delays this will be my last result obligations with our media in Spain, a levy.

For the full and wonderful six years dancing all.

With our bank debt.

Just off the list to me is always described feeling of things that I started with and I ended my career with.

Retirement is just another thing supply it doesn't mean that I forget about or CPC and all the wonderful people.

Matt and work with including you guys. So thank you all fall to support all just yes, you always come up with one quick question and sometimes make me think make me think hey are we missing something or you're interested in something that must be a reason so help us to improve ourselves along the way.

Helen: You always come up with very good questions and sometimes make me think, Hey, are we missing something? You are interested in something that must be a reason, help us to improve ourselves along the way as well. I want to thank you all the while to on supporting the OCBC Group and supporting me very much. I hope that you will continue to provide support to Teck Long. I'm very sure Teck Long has been with us for more than three and a half years now, so he's part of the leadership team, and I'm very, very happy we have Teck Long to lead the group going forward. I'm very sure that he will bring OCBC to the next height.

Helen Wong: You always come up with very good questions and sometimes make me think, Hey, are we missing something? You are interested in something that must be a reason, help us to improve ourselves along the way as well. I want to thank you all the while to on supporting the OCBC Group and supporting me very much. I hope that you will continue to provide support to Teck Long. I'm very sure Teck Long has been with us for more than three and a half years now, so he's part of the leadership team, and I'm very, very happy we have Teck Long to lead the group going forward. I'm very sure that he will bring OCBC to the next height.

As well so I want to thank you all the while two of imported OCC group and supporting me very much I hope that you will continue to provide support to pick well I'm very sure take long has been with us for more than three and a half years now.

So it's part of the leadership team and I'm very happy we have to go to to reach it with going forward.

And I'm very sure that it will trend.

<unk> so the next time.

So a lot of things have happened over the last six years.

Helen: A lot of things have happened over the last six years, but as again, I have nothing but gratitude and really feel honored to have been the good sail for OCBC. Thank you very much.

I have nothing but gratitude.

Helen Wong: A lot of things have happened over the last six years, but as again, I have nothing but gratitude and really feel honored to have been the good sail for OCBC. Thank you very much.

But if you will on them to happen.

Seal pharmacies. So thank you very much.

Okay.

Mhm.

[Analyst]: Thank you. Thank you, everyone.

Operator: Thank you. Thank you, everyone.

Q3 2025 Oversea-Chinese Banking Corp Ltd Earnings Call

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