UOB Q2 profit up 27% to $1.4 billion; dividend of 85 cents declared

Like
Comment
Favorite

UOB Q2 profit up 27% to $1.4 billion; dividend of 85 cents declared

The Straits Times2023-07-27

SINGAPORE – UOB’s earnings in the second quarter continued to get a lift from high interest rates and was also buoyed by a rebound in income from customer-related treasury, trading and liquidity ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment

No comments yet

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/2354863551?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-07-27 07:45","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2354863551","market":"sg","top_or_hot":-1,"title":"UOB Q2 profit up 27% to $1.4 billion; dividend of 85 cents declared","media":"The Straits Times","content":"<div>\n<p>SINGAPORE – UOB’s earnings in the second quarter continued to get a lift from high interest rates and was also buoyed by a rebound in income from customer-related treasury, trading and liquidity ...</p>\n\n<a href=\"https://www.straitstimes.com/business/banking/uob-q2-profit-up-27-to-14-billion-dividend-of-85-cents-declared\">Source Link</a>\n\n</div>\n","source":"straits_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>UOB Q2 profit up 27% to $1.4 billion; dividend of 85 cents declared</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUOB Q2 profit up 27% to $1.4 billion; dividend of 85 cents declared\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-07-27 07:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.straitstimes.com/business/banking/uob-q2-profit-up-27-to-14-billion-dividend-of-85-cents-declared><strong>The Straits Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SINGAPORE – UOB’s earnings in the second quarter continued to get a lift from high interest rates and was also buoyed by a rebound in income from customer-related treasury, trading and liquidity ...</p>\n\n<a href=\"https://www.straitstimes.com/business/banking/uob-q2-profit-up-27-to-14-billion-dividend-of-85-cents-declared\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999002604.SGD","symbol_name":"LionGlobal Singapore/Malaysia SGD","start_time":0,"source_url":"https://www.straitstimes.com/business/banking/uob-q2-profit-up-27-to-14-billion-dividend-of-85-cents-declared","article_id":"2354863551","we_media_id":null,"thumbnails":[],"rights":{"source":"straits_highlight","url":"https://www.straitstimes.com/business/banking/uob-q2-profit-up-27-to-14-billion-dividend-of-85-cents-declared","rn_cache_url":null,"customStyle":"","selectors":"body","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2354863551","pubTimestamp":1690415104,"columns":[],"sourceInfo":{"source_id":"straits_highlight","name":"Straits Times"},"weMediaInfo":null,"summary":"SINGAPORE – UOB’s earnings in the second quarter continued to get a lift from high interest rates and was also buoyed by a rebound in income from customer-related treasury, trading and liquidity management activities.This comes even as it set aside more allowances for potential bad loans amid economic uncertainty and for a specific corporate account in Thailand.The bank on Thursday declared an interim dividend of 85 cents a share. This represents a payout ratio of approximately 49 per cent, higher than the 42 per cent rate for the same period last year.The net profit of Singapore’s third-largest bank rose 27 per cent to $1.42 billion, from $1.11 billion in the same period last year.UOB’s earnings were in line with the $1.43 billion forecast by analysts in a Refinitiv poll.Excluding these expenses, core net profit came in at $1.51 billion, representing a 35 per cent increase from the same period last year.Higher deposit caps for digital banks not likely to impact DBS, OCBC and UOB: Fitc","collect":0,"end_time":0,"defaultTopTitle":"straitstimes.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"SG9999002604.SGD":"LionGlobal Singapore/Malaysia SGD","LU0588545730.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY INCOME \"ADM\" (USD) INC","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","SG9999002679.SGD":"LionGlobal Singapore Balanced SGD","SG9999013478.USD":"利安新加坡股息基金","LU0577902454.USD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (USD) ACC","LU0048597586.USD":"富达亚洲焦点A","SG9999005177.SGD":"Legg Mason Martin Currie - Southeast Asia Trust A Acc SGD","SG9999013460.SGD":"LionGlobal Singapore Dividend Equity Fund SGD","SG9999014302.SGD":"RHB Singapore Income Fund SGD","LU0572939691.SGD":"Janus Henderson Horizon Asian Dividend Income A2 SGD","LU0516423091.SGD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (SGD) ACC","SG9999013486.USD":"LIONGLOBAL SINGAPORE DIVIDEND EQUITY (USD) INC A","LU0048573645.USD":"富达东盟基金","LU1105468828.SGD":"Allianz Total Return Asian Equity AM DIS H2-SGD","LU0955669360.SGD":"Schroder ISF Asian Dividend Maximiser A Dis SGD","LU0348814723.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"A\" (USD) INC  NC","SG9999002414.USD":"LIONGLOBAL SINGAPORE TRUST (USD) ACC","SG9999004220.SGD":"Nikko AM Shenton Asia Dividend Equity Fund  SGD","LU0878005551.USD":"UBS (LUX) KEY SELEC ASIA ALLOCATION OPPORTUNITY (USD) \"P\" (USD) ACC","LU0898667661.SGD":"JPMorgan Funds - Asia Pacific Income A (mth) SGD-H","LU0979878070.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"A\" (USD) ACC","LU0315178854.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY INCOME \"A\" ACC","SG9999002406.SGD":"利安新加坡信托基金","BK6112":"综合性银行","LU1130305938.SGD":"Schroder ISF Asian Dividend Maximiser A Dis SGD-H","SG9999003826.SGD":"日兴资管新加坡股息基金 SGD","LU0251144936.SGD":"Fidelity Sustainable Asia Equity A-SGD","LU0873338254.USD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (USD) INC","LU0918141887.USD":"安联亚洲实际收益股票基金","U11.SI":"大华银行","LU0865486749.SGD":"Eastspring Investments - Asian Equity Income AS SGD-H","LU0577902611.USD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"A\" (USD) ACC","LU0532188223.SGD":"JPMorgan Funds - ASEAN Equity A (acc) SGD","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","LU0577902371.SGD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (SGD) ACC","LU0516422366.SGD":"Fullerton Lux Funds - Asia Focus Equities A Acc SGD","LU0572940350.SGD":"Janus Henderson Horizon Asian Dividend Income A3 SGD","SG9999002620.SGD":"LionGlobal South East Asia SGD","SG9999014484.SGD":"Nikko AM ASEAN Equity Fund A SGD","BK6523":"ESG概念","LU0577902298.EUR":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (EUR) ACC","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","LU0251143029.SGD":"Fidelity ASEAN A-SGD","LU0588545490.SGD":"Eastspring Investments - Asian Equity Income AS SGD","SG9999000475.SGD":"Aberdeen Standard Singapore Equity SGD","LU0577902538.SGD":"Fullerton Lux Funds - Asia Growth and Income Equities A Acc SGD","SG9999000343.SGD":"Schroder Singapore Trust A Dis SGD","LU0264606111.USD":"Janus Henderson Horizon Asian Dividend Income A2 USD","LU0588545904.SGD":"Eastspring Investments - Asian Equity Income ASDM SGD"},"translate_title":"大华银行Q2利润增长27%，至14亿美元；宣派股息85仙","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"U11.SI":1},"content_text":"SINGAPORE – UOB’s earnings in the second quarter continued to get a lift from high interest rates and was also buoyed by a rebound in income from customer-related treasury, trading and liquidity management activities. \nThis comes even as it set aside more allowances for potential bad loans amid economic uncertainty and for a specific corporate account in Thailand. \nThe bank on Thursday declared an interim dividend of 85 cents a share. This represents a payout ratio of approximately 49 per cent, higher than the 42 per cent rate for the same period last year.\n\n\n\nThe net profit of Singapore’s third-largest bank rose 27 per cent to $1.42 billion, from $1.11 billion in the same period last year. \nUOB’s earnings were in line with the $1.43 billion forecast by analysts in a Refinitiv poll.\nIt included one-off expenses related to its acquisition of Citigroup’s Malaysia, Thailand and Vietnam consumer banking business.\n\n\n\n\nExcluding these expenses, core net profit came in at $1.51 billion, representing a 35 per cent increase from the same period last year.\n\nUOB chief executive officer Wee Ee Cheong said the bank expects the Asean region to stay relatively resilient, adding: “Growth will be supported by a more moderate interest rate environment in this region and a pick-up in tourism and demand for service.\n“Our Citigroup acquisition is progressing well. Our strengthened market position and customer base open up more opportunities for global partnerships and enhanced offerings for our customers.” \nUOB’s second-quarter interest income rose 31 per cent year on year, led by a 45 basis point expansion in net interest margin – a key gauge of a lender’s profitability.\nHowever, loan-related and wealth management fees were softer compared with a year ago as investor sentiments remained subdued. These declines were partly offset by an increase in card fees.\nOther non-interest income more than doubled to $581 million, from $273 million a year ago, on higher customer-related treasury income and strong performance from trading and liquidity management activities in the second quarter.\nMeanwhile, the bank saw higher credit costs on loans as it made more pre-emptive provisions, with total allowances rising to $365 million. \nIt said: “Outside of a specific exposure, credit costs remained stable. The group continues to maintain healthy provision buffers to cushion against uncertainties.” \nAsset quality remained stable with its non-performing loan ratio improving to 1.6 per cent, down from 1.7 per cent a year ago. \nUOB’s results kick off earnings season for local lenders. DBS will report its numbers on Aug 3, and OCBC on Aug 4. \n\n\n\n\n\nMore On This Topic\n\n \n\nSingapore banks’ Q2 performance to be weighed down by higher costs, weaker loans: Analysts \n\n\n\n \n\nHigher deposit caps for digital banks not likely to impact DBS, OCBC and UOB: Fitch Ratings","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}