Despite unusual challenges in 2023, Wholesale Banking (WB) met our annual objectives and continued marching towards our 2021-2025 strategic goals. Our ability to maintain non-performing loans (NPL) at nearly 0% is the fruit of our robust risk management framework and market-leading approach to project financing. We only finance developments with a clear title and in strategic locations such as central business districts (CBD) or high-demand, well-developed and connected areas.
The year also saw us shift gears as we diversified our revenue streams beyond real estate. This strategic move yielded substantial 60% year-on-year (YoY) growth in lending to non-real estate business customers. Similarly, fee income grew a notable 61% YoY. These achievements underscore the Bank's ongoing commitment to achieving balanced, prudent expansion across different customer segments and markets.
