UOB's Q3 net profit rises 34% to record high of S$1.4 billion

UOB's Q3 net profit rises 34% to record high of S$1.4 billion

United Overseas Bank (UOB) on Friday (Oct 28) said its net profit for the third quarter hit a record high of S$1.4 billion, up 34 per cent on a year-on-year basis.

For gamblers สล็อตโจ๊กเกอร์168 who are interested in playing slot games; The process of subscribing to a slot is hassle-free.

The “strong” performance for the quarter ended September was driven by higher net interest income and customer-related treasury income, said deputy chairman and chief executive officer Wee Ee Cheong.

Following the announcement, shares of the local bank jumped 1.2 per cent to S$27.22 as of 1.15pm.

UOB’s net interest income for the third quarter rose 39 per cent year-on-year to a new high of S$2.23 billion, as net interest margin expanded 40 basis points on the back of rising interest rates and loan growth of 6 per cent.

This increase in net interest income more than offset the 10 per cent decline in net fee and commission income.

The latter fell to S$519 million, as loan-related fees moderated and wealth management fees remained soft amid subdued market sentiment, the bank said.

Meanwhile, other non-interest income surged 58 per cent on-year to S$431 million on the back of record-high customer-related treasury income, as demand for hedging activities rose.