October 25, 2018 / 11:36 PM / 23 days ago

Singapore's United Overseas Bank Q3 profit jumps 17 pct

Oct 26 (Reuters) - Singapore’s United Overseas Bank Ltd said on Friday its third-quarter profit jumped 17 percent, helped by robust loan growth and lower allowances.

Profit for the quarter ended Sept. 30 came in at S$1.04 billion ($753.2 million), compared with S$883 million a year ago.

“Amid headwinds posed by escalating trade tensions and cautious business sentiment, we sustained stable performance in the third quarter,” UOB Chief Executive Wee Ee Cheong said in a statement.

Net interest income was 14 percent higher over the previous year at S$1.6 billion, while net interest margin - a key metric of profitability - improved 2 basis points. ($1 = 1.3807 Singapore dollars) (Reporting by Rushil Dutta in Bengaluru; Editing by Stephen Coates)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below