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Oil sector woes cut UOB third-quarter profit by 7.8% to S$791 million

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The oil rout has, as expected, hit United Overseas Bank (UOB).

Singapore

THE oil rout has, as expected, hit United Overseas Bank (UOB). The bank posted on Friday a 7.8 per cent lower net profit for the third quarter on higher allowances from the oil & gas segment and weaker non-interest income.

Net profit for the three months ended Sept 30

sentifi.com

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