UOB release the financial result for 1st quarterAt lunchtime, the UOB Group released its financial results for the first quarter ended 31 March 2007 (“1Q07”), with a net profit after tax of S$518 million. This represents an increase of 18% over the same period last year.
Our growth continues to be broad-based with core operating lines showing good performance. Total income rose 19% year-on-year, boosted by higher net interest income and all-round better performance in fee-based activities.
Net interest margin improved to 2.18% with loan margin continuing its upward trend despite the competitive environment, a result of our regional diversification efforts. This is also evident looking at overseas pre-tax profit where we grew 23% organically. For more details, please visit our online bulletin, UOB Xchange, or the Group website.
During the quarter, we continued to grow our loans and profits in consumer, SME and corporate segments across the various countries, reflecting the strength of our franchise in th (more...)
DJ United Overseas Bank 1Q Net S$518M; Expected S$511M
*DJ United Overseas Bank 1Q Net S$518M; Expected S$511M
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May 08, 2007 00:40 ET (04:40 GMT)
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DJ United Overseas Bank 1Q Net S$518M; Expected S$511M
SINGAPORE (Dow Jones)--United Overseas Bank Ltd. (U11.SG) on Tuesday reported a 17.9% increase in its first-quarter net profit due to higher net interest and non-interest income.
Singapore's second-largest banking group by assets posted a net profit of S$518 million for the three months ended March 31, up from S$439 million a year earlier.
The figure was slightly higher than the average estimate of S$511 million by four analysts polled by Dow Jones Newswires.
First-quarter net interest income rose 16.6% to S$762 million from S$653 million.
Non-interest income was up 23.4% to S$432 million from S$350 million, according a company statement.
-By Patricia Kowsmann, Dow Jones Newswires; 65 6415 4157; patricia.kowsmann@dowjones.com
-Edited by Stephen Wright
(END) Dow Jones Newswires
May 08, 2007 00:47 ET (04:47 GMT)
Copyright (c) 2007 Dow Jones & Company, Inc.
(MORE TO FOLLOW) Dow Jones Newswires
May 08, 2007 00:40 ET (04:40 GMT)
Copyright (c) 2007 Dow Jones & Company, Inc.
DJ United Overseas Bank 1Q Net S$518M; Expected S$511M
SINGAPORE (Dow Jones)--United Overseas Bank Ltd. (U11.SG) on Tuesday reported a 17.9% increase in its first-quarter net profit due to higher net interest and non-interest income.
Singapore's second-largest banking group by assets posted a net profit of S$518 million for the three months ended March 31, up from S$439 million a year earlier.
The figure was slightly higher than the average estimate of S$511 million by four analysts polled by Dow Jones Newswires.
First-quarter net interest income rose 16.6% to S$762 million from S$653 million.
Non-interest income was up 23.4% to S$432 million from S$350 million, according a company statement.
-By Patricia Kowsmann, Dow Jones Newswires; 65 6415 4157; patricia.kowsmann@dowjones.com
-Edited by Stephen Wright
(END) Dow Jones Newswires
May 08, 2007 00:47 ET (04:47 GMT)
Copyright (c) 2007 Dow Jones & Company, Inc.
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