UOB's Weak Fee Momentum, Wealth Franchise Gap Against Peer Likely Headwinds -- Market Talk
Dow Jones05-08 16:49
0849 GMT - United Overseas Bank's weak fee momentum and widening gap in its wealth franchise versus peer DBS Group are likely to remain headwinds for the former, Phillip Securities Research's Glenn Thum says in a note. UOB's 1Q fee income fell 8% against a record base a year ago, which he found disappointing. Still, he retains his estimates for the lender's 2026 results, projecting full-year earnings to rise 17% on a resilient net interest margin and lower provisions. Phillip Securities retains a neutral rating and S$37.00 target price. Shares fall 0.35% to S$36.57. (megan.cheah@wsj.com)
(END) Dow Jones Newswires
May 08, 2026 04:49 ET (08:49 GMT)
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