Chairman Peter Seah
In This Section:> An eventful year > A strong, resilient franchise > World's Best Digital Bank > Sustainability > Dividends > Going forward
Against this backdrop, we made good progress on our strategy, delivering strong operating performance and cost efficiencies, as well as solid returns. These results are commendable given China headwinds which reduced customer activity, as well as the collapse of oil prices which caused stress in the offshore oil support services sector. We increased our credit allowances substantially, and our provision coverage ratios remain strong.
During the year, we completed two milestone transactions, which will further strengthen our franchise and cement our ambitions in the wealth and digital space: