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 the region. Let us continue to harness the shared resources and synergies across our regional network. The Group made further inroad in its regionalization efforts by taking a 10% stake in Vietnam’s Southern Bank and signing a letter of intent to start negotiating for a strategic investment in China’s Evergrowing Bank. The latest initiatives are in line with the Group’s directions to extend our regional footprint.
Operating expenses increased 19% as the Group continued to invest in its people, franchise and infrastructure. But we managed to maintain expense-to-income ratio at 39.5%. Let us continue to be mindful of our expenses.
Looking ahead, the opportunities offered by the region remain attractive. Our strong capital position as well as focus on building long-term capability will place us in good stead to grow our franchise towards becoming a premier regional bank. Your continued dedication and support will be key in achieving this mission.
[private-banker (5-8 13:26, Long long ago)]
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DJ United Overseas Bank 1Q Net S$518M; Expected S$511M*DJ United Overseas Bank 1Q Net S$518M; Expected S$511M
(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.
[牛魔王 (5-8 13:33, Long long ago)]
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(引用 牛魔王:DJ United Overseas Bank 1Q Net S$518M; Expected S$511M*DJ United Overseas Bank 1Q Net S$518M; Expected S$511M (MORE TO FOLL...)Below expectation.牛兄卖得好啊![ssc (5-8 15:48, Long long ago)] [ 传统版 | sForum ][登录后回复]3楼
(引用 ssc:Below expectation.牛兄卖得好啊!)哎呀,牛某不做anchor,居然跌成这个样子了。如到21.5,吾将再入场。[牛魔王 (5-8 16:22, Long long ago)] [ 传统版 | sForum ][登录后回复]4楼
(引用 牛魔王:哎呀,牛某不做anchor,居然跌成这个样子了。如到21.5,吾将再入场。)牛哥,你昨日anchor ferrochina,今天它大掉呀。。。support在哪里?2块?
马上要出国2个星期,如果再跌,我就要liq我的position了,不想europe回来要卖屁股啦。。。[private-banker (5-8 16:32, Long long ago)]
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(引用 private-banker:牛哥,你昨日anchor ferrochina,今天它大掉呀。。。support在哪里?2块? 马上要出国2个星期,如果再跌,我就要liq我的position了,不想e...)这个股不要紧吧,吾继续anchoring。[牛魔王 (5-8 16:34, Long long ago)] [ 传统版 | sForum ][登录后回复]6楼
(引用 private-banker:牛哥,你昨日anchor ferrochina,今天它大掉呀。。。support在哪里?2块? 马上要出国2个星期,如果再跌,我就要liq我的position了,不想e...)这个股不要紧吧,吾继续anchoring。[牛魔王 (5-8 16:34, Long long ago)] [ 传统版 | sForum ][登录后回复]7楼
(引用 牛魔王:这个股不要紧吧,吾继续anchoring。)对不起。为何总是这样呢[牛魔王 (5-8 16:37, Long long ago)] [ 传统版 | sForum ][登录后回复]8楼
(引用 牛魔王:这个股不要紧吧,吾继续anchoring。)牛王,你急什么.网络慢就等一下.不用点这么多次.[ssc (5-8 16:38, Long long ago)] [ 传统版 | sForum ][登录后回复]9楼
(引用 牛魔王:这个股不要紧吧,吾继续anchoring。)Ferra不用怕,能量大得很!偶昨天,极限买入CAO和Ferro。。[north933 (5-8 20:57, Long long ago)] [ 传统版 | sForum ][登录后回复]10楼