<\/p>\n
Singapore’s United Overseas Bank, or UOB, posted a faster-than-expected rise in third-quarter net profit to a record, helped by brisk trading and investment, and flagged a pick up in loan growth next year.<\/p>\n
Southeast Asia’s third-largest bank by assets said that July to September net profit jumped 16 per cent to a record S$1.61 billion (US$1.22 billion) from a year earlier. This beat the mean estimate of almost S$1.50 billion from four analysts polled by LSEG.<\/p>\n
“Amid a volatile global economy, Southeast Asia stands out as a bright spot,” said UOB Deputy Chairman and Chief Executive Officer Wee Ee Cheong in a statement.<\/p>\n
“We are confident of ASEAN’s long-term potential, bolstered by strong economic fundamentals and a surge in foreign direct investment inflows with shifting supply chains,” he added.<\/p>\n
Wee projected high single-digit loan growth for 2025, versus low single-digit for 2024, according to slides accompanying the earnings results.<\/p>\n
The bank expects double-digit fee growth, higher total income, cost-to-income ratio at 41 per cent to 42 per cent and credit costs within 25 to 30 basis points range, all broadly in line with 2024, the slides showed.<\/p>\n
The better third-quarter performance was driven by record-high net fees and trading and investment income.<\/p>\n
However, net interest margins, a key gauge of profitability, were slightly lower at 2.05 per cent in the third quarter from 2.09 per cent in the same period a year earlier.<\/p>\n
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Singapore’s United Overseas Bank, or UOB, posted a faster-than-expected rise in third-quarter net profit to a record, helped by brisk trading and investment, and flagged a pick up in loan growth next year. Southeast Asia’s third-largest bank by assets said that July to September net profit jumped 16 per cent to a record S$1.61 billion […]<\/p>\n","protected":false},"author":1,"featured_media":2871,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2857","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bez-rubriki"],"featured_image_src":{"landsacpe":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/11\/UOB-4-1140x445.jpg",1140,445,true],"list":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/11\/UOB-4-463x348.jpg",463,348,true],"medium":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/11\/UOB-4-300x200.jpg",300,200,true],"full":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/11\/UOB-4-scaled.jpg",2560,1707,false]},"_links":{"self":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/2857","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/comments?post=2857"}],"version-history":[{"count":1,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/2857\/revisions"}],"predecessor-version":[{"id":2858,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/2857\/revisions\/2858"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/media\/2871"}],"wp:attachment":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/media?parent=2857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/categories?post=2857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/tags?post=2857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}