OCBC Bank reported a fourth quarter net profit of $663 million, up 12 per cent from $594 million in the same quarter a year ago.

Net interest income was $921 million, relatively unchanged from a year ago as loan growth was offset by a 15 basis point decline in net interest margin to 1.70 per cent.

In a statement, the bank attributed it to pricing competition and the flat yield curve environment.

Non-interest income grew 32 per cent to $757 million from $572 million.

For the full year, Singapore's second largest lender posted a net profit of $3.99 billion.