CEO of United Overseas Bank (UOB) Wee Ee Cheong has purchased 150,000 ordinary shares at $33.75783 per share on Nov 7, a day after the bank announced lower 3QFY2025 earnings.
UOB reported a 72% y-o-y drop in net profit of $443 million for the third quarter of this year, which it attributed to making a pre-emptive move for general provisions of $615 million.
Total income for 3QFY2025 was down 11% y-o-y to $3.47 billion, with both net interest income and net fee income dipping slightly.
The amount of CEO Wee’s purchase came up to $5,063,674.5, and his stake in the company has now increased to 179,820,416 of the total number of ordinary shares or 10.864%.
Shares in UOB closed 4 cents lower or 0.118% down at $33.86 on Nov 7.
