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

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

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05/02/2013 | 12:25pm CEST
   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

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Financials ( SGD)
Sales 2016 8 158 M
EBIT 2016 4 211 M
Net income 2016 3 097 M
Debt 2016 -
Yield 2016 3,94%
P/E ratio 2016 9,98
P/E ratio 2017 9,58
Capi. / Sales 2016 3,78x
Capi. / Sales 2017 3,57x
Capitalization 30 853 M
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Mean consensus HOLD
Number of Analysts 22
Average target price 19,5  SGD
Spread / Average Target 2,5%
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Managers
NameTitle
Ee Cheong Wee Deputy Chairman & Chief Executive Officer
Fu Hua Hsieh Independent Non-Executive Chairman
Wai Cheng Hwee Head-Group Technology & Operations
Wai Fai Lee Group Financial Officer & Corporate Services
Cho Yaw Wee Chairman-Emeritus
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