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UOB's Q1 net profit rises 9.2% to $788 million

Published on Apr 30, 2014 6:32 PM
 
United Overseas Bank (UOB) followed its peers in reporting stronger-than-expected earnings. -- BT FILE PHOTO: ARTHUR LEE CH

SINGAPORE - United Overseas Bank (UOB) followed its peers in reporting stronger-than-expected earnings.

It said in a statement after markets closed on Wednesday that its net profit rose 9.2 per cent to $788 million for the first quarter ended March 31.

This was better than a Reuters poll of six analysts, whose mean estimates amounted to $740 million.

UOB said net interest income shot up by 15.2 per cent to $1.11 billion, as loans grew 12.7 per cent to $189 billion.

 
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