One of Singapore’s three listed banks, Oversea-Chinese Banking Corporation Limited (SGX: O39) (OCBC), just released its earnings for 2020. Here are some quick points to note from the bank’s latest financial results. 1. Total Income OCBC reported a total income of S$10.14 billion in 2020, down 7% year-on-year. The decline came on the back of lower net interest income and non-interest income. Net interest income fell 6% year-on-year to S$5.97 billion. The fall in net interest income was due to a drop in net interest margin (from 1.77% in 2019 to 1.61% in 2020) amid a lower interest rate environment and a lower loans-to-deposits ratio (down from 86.5% to 83.7%) on the back of strong deposits growth. The net interest margin shows the average interest margin that a bank earns from its borrowing and lending activities while the loans-to-deposits ratio measures a bank’s liquidity. Meanwhile, non-interest income decreased 8% year-on-year to...