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United Overseas Bank (UOB): Profit for 2012 up 21% to $2.8 billion

Published on Feb 27, 2013 7:17 PM
 
United Overseas Bank Group's full year net profit rose 21 per cent to a record high of $2.8 billion partly due to higher fee and commission income. -- ST FILE PHOTO: JASON QUAH

UOB Group's full year net profit rose 21 per cent to a record high of $2.8 billion partly due to higher fee and commission income.

Total income for the year ended Dec 31 rose 14 per cent to $6.5 billion.

Profits from key regional markets surpassed $1 billion for the first time, UOB noted in a statement this evening.

The record fee and commission income also mitigated the effects of interest margin pressure amid the low interest rate environment, it added.

 
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