$UNITED OVERSEAS BANK LIMITED(U11.SI)$share price has just gone below the 30.00 psychological price point. It is a great time to buy.
The drop today is due to its latest earnings report that its Q1 net profit fell 10% on year to SGD906 million as total income was impacted by market volatility and geopolitical tensions.
Its net profit for the 3 months ended 31 March 2022 was also 11% lower quarter on quarter. Net Interest income however increased 10% to SGD1.7 billion.
UOB is the 3rd largest bank in Singapore and has a dominant presence in South East Asia having purchased Citigroup Consumer Business in 4 countries namely Malaysia, Thailand, Indonesia and Vietnam for SGD4.9 Billion dollars.
With interest rates rising,$UNITED OVERSEAS BANK LIMITED(U11.SI)$ has exponential growth ahead. It also pays great dividends too. So let's grab this opportunity to buy $UNITED OVERSEAS BANK LIMITED(U11.SI)$ before its share price goes over the 30 dollars price point.
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I Was hoping DBS went to $30 (psychological level) last fee days but didnt