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

4-Traders Homepage  >  Shares  >  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
08/31 UNITED OVERSEAS BANK : Raises USD50 Million in Bonds Offering Due 2020
08/17 UNITED OVERSEAS BANK LTD : ex-dividend day for interim dividend
08/07 Singapore stocks lower at close of trade; FTSE Straits Times Singapore unchan..
08/06 UNITED OVERSEAS BANK : A Growing Presence in New York Commercial Real Estate
07/30DJUNITED OVERSEAS BANK : Second-Quarter Net Down 5.7% on Lower Trading Income
07/30 Hang Seng Bank tops Bloomberg annual ranking of world
07/26 DBS second-quarter net profit rises 15 percent, sees some uncertainty in H2
07/21DJUNITED OVERSEAS BANK : in Joint Venture With Temasek Unit InnoVen Capital
06/23 UNITED OVERSEAS BANK : Financial cards and payments market statistics of Singapo..
05/08 UNITED OVERSEAS BANK : to Acquire Far Eastern Bank
Duration : Period :
United Overseas Bank Ltd Technical Analysis Chart | UOBH | SG1M31001969 | 4-Traders
Income Statement Evolution
More Financials