United Overseas Bank reports 3.2% rise in Q2 earnings to $808 million

Strong contributions from its net interest income and investment gains helped United Overseas Bank (UOB) to log a 3.2 per cent hike in its second quarter net profit to $808 million. -- ST PHOTO: KUA CHEE SIONG
Strong contributions from its net interest income and investment gains helped United Overseas Bank (UOB) to log a 3.2 per cent hike in its second quarter net profit to $808 million. -- ST PHOTO: KUA CHEE SIONG

SINGAPORE - Strong contributions from its net interest income and investment gains helped United Overseas Bank (UOB) to log a 3.2 per cent hike in its second quarter net profit to $808 million.

The bank said its net interest income increased by 10.7 per cent to $1.12 billion for the three months ended June 30, helped by a higher loan base.

Non interest income grew 21.1 per cent to $760 million, with increased gains from investment securities.

Net interest margin remain unchanged at 1.71 per cent.

Total income in the first half rose 9.7 per cent to a new high of $3.64 billion as it reported a 6.1 per cent jump in net earnings to a record $1.6 billion.

UOB has declared an interim cash dividend of 20 cents per share.

The scrip dividend scheme will not be applicable.