OCBC reported net profits at a high of S$1.5bn ($1.1bn), up 115% over 1Q2020 numbers. Profits were helped by a 66% YoY increase in Banking operations and a 59% YoY increase in Wealth Management to S$1.13bn ($850mn) and S$1.21bn ($910mn). Net interest income stayed stable at S$1.44bn ($1.1bn) with NIMs of 1.56% while non-interest income saw a strong rise to 50.6% of group income from 34.7% in 1Q2020 and 42.2% in 4Q2020 led by Insurance. NPA coverage ratio further increased to 118% from 90% in 1Q2020 and NPL ratio remained stable QoQ at 1.5%. The bank reported a CET1 ratio at 15.5%, up 30bp vs end-2020.