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UOB reports 17% higher 3Q earnings of $1.04 bil on higher net interest income and lower allowances

Results

UOB reports 17% higher 3Q earnings of $1.04 bil on higher net interest income and lower allowances

PC Lee Published on Fri, Oct 26, 2018 / 7:17 AM GMT+8

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SINGAPORE (Oct 26): UOB Group reported 3Q18 earnings of $1.04 billion, 17% higher than the same quarter last year, driven by double-digit growth in net interest income and lower allowances.

Net interest income rose 14% to $1.60 billion, from healthy loan growth and a net interest margin uplift of two basis points to 1.81%.

Net fee and commission income increased 2% to $484 million due to higher loan-related, credit card and trade-related fees. Other non-interest income was lower at $244 million as 3Q17 recorded stronger gains from investment securities.

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UOB reports 17% higher 3Q earnings of $1.04 bil on higher net interest income and lower allowances

Results

UOB reports 17% higher 3Q earnings of $1.04 bil on higher net interest income and lower allowances

Primary tabs

Error message

UOB reports 17% higher 3Q earnings of $1.04 bil on higher net interest income and lower allowances

Results

UOB reports 17% higher 3Q earnings of $1.04 bil on higher net interest income and lower allowances

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