Key facts
- UOB's third-quarter net profit rose 182.2% to S$1.25 billion from S$443 million a year earlier.
- The result missed the S$1.38 billion consensus forecast among six analysts polled by Bloomberg.
- Other non-interest income fell 29% to S$370 million due to lower trading and investment income.
- Net fee income climbed 19% to S$733 million, a record, on wealth, cards and loan-related businesses.
- Allowances for credit and other losses fell 81% to S$258 million from S$1.36 billion.
United Overseas Bank Ltd. reported third-quarter net profit of S$1.25 billion for the period ended September 30, 2026, missing the S$1.38 billion consensus forecast among six analysts polled by Bloomberg, according to The Business Times. The profit rose 182.2% from S$443 million a year earlier, a period when earnings fell 72% after S$1.36 billion in allowances for credit and other losses.
Earnings were supported by record net fee income, which climbed 19% to S$733 million from S$615 million, on growth in the lender's wealth, cards and loan-related businesses. Net interest income grew 1% to S$2.28 billion from S$2.27 billion as net interest margin, a measure of lending profitability, narrowed to 1.68% from 1.82%.
Other non-interest income fell 29% to S$370 million from S$518 million due to lower trading and investment income. Allowances for credit and other losses were 81% lower at S$258 million, and the non-performing loan ratio stood at 1.5% compared with 1.6% a year earlier.
UOB was the first of Singapore's three local banks to report third-quarter earnings, with DBS and OCBC due to release results on November 5 and November 6, respectively. UOB shares closed 0.49% or S$0.20 lower at S$40.46 on Tuesday, before the announcement.