EmilyMark
2022-06-06

$UNITED OVERSEAS BANK LIMITED(U11.SI)$ UOB’s 1QFY2022 results missed expectations mainly on lower non-interest income. Although trading and investment income is expected to rebound in 2Q22, FY2022-FY2024 earnings were cut by 5%-6% to take into account the 1QFY2022 mark-to-market trading loss and more conservative assumptionsI, given the more challenging environment for wealth management.

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