Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  SINGAPORE EXCHANGE  >  United Overseas Bank Ltd    UOBH   SG1M31001969

News SummaryMost relevantAll newsSector news 

United Overseas Bank Ltd : United Overseas Bank 1Q Net Rises 4.9% to S$722 Million

05/02/2013 | 06:25am US/Eastern
   By Martin Vaughan 

SINGAPORE--United Overseas Bank Ltd. (U11.SG) said Thursday its first quarter profit rose 4.9% from the previous year to S$722 million (US$586 million).

The positive result was driven by a 25% increase in fee and commission income to S$453 million. That was partially offset by a decline in net interest income on declining margins on loans as global interest rates were driven down by central bank easing programs.

Net interest income fell 3.5% to S$964 million from the first quarter of 2012. Net interest margin fell 6 basis points to 170 bps, the bank said in a statement to the Singapore Exchange.

"Despite this strong start, we are mindful that overall growth is expected to moderate this year," said Wee Ee Cheong, deputy chairman and chief executive officer. "Within Asia, especially Southeast Asia, business and economic fundamentals remain sound and we will continue to see ample liquidity and intense competition," he said.

Write to Martin Vaughan at martin.vaughan@dowjones.com

Order free Annual Report for United Overseas Bank Ltd. (Singapore)

Visit http://djnweurope.ar.wilink.com/?ticker=SG1M31001969 or call +44 (0)208 391 6028

Order free Annual Report for United Overseas Bank Ltd. (Singapore)

Visit http://djnweurope.ar.wilink.com/?ticker=US9112713022 or call +44 (0)208 391 6028

React to this article
11/06 EASYJET : Travel advice for holidaymakers who have booked trips to Egypt
11/05 UNITED OVERSEAS BANK : British Airways increases Chinese footprint
11/05 UNITED OVERSEAS BANK : Highlands boost as BA restarts Inverness route
11/05 British shutdown of Sharm el-Sheikh flights affects 20,000 citizens
11/04 UNITED OVERSEAS BANK : Airlines reaping from British Airways exit from Uganda
11/04 UNITED OVERSEAS BANK : British Menu Week kicks off in Beijing
11/02 Upgrade for BA's owner
10/31 Aer Lingus in EUR 45m profit
10/30 UNITED OVERSEAS BANK : Broken Shaker Designs London-Inspired Cocktail for Britis..
News chart
Full-screen chart
Income Statement Evolution
More Financials