UOB's Q1 net profit rises 9.2% to $788 million
Published on Apr 30, 2014 6:32 PM
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.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!