Key Financial Highlights
Grow Income
Income (SGD m)

Outcome: 8% income growth to record SGD 9.62 billion
Manage Expenses
Cost/Income (%)

Outcome: Cost-income ratio in line with target of 45%. Continue to drive efficiency through strategic cost management efforts. Savings of SGD 500 million over three years reinvested in headcount and new capabilities including digital
Manage Portfolio Risk
Specific Allowances/Average Loans (bp)

Outcome: Specific allowances as a percentage of loans maintained at 18 bp
Improve Returns
Return on Equity (%)

Outcome: Double-digit return on equity in a low interest rate environment