You are here

Tax expense drags UOB down in Q1

huob0145345.jpg
United Overseas Bank (UOB) on Thursday performed a shade under market expectations with a 1.6 per cent rise in net profit for its first quarter, as a lift from gains in trading and fee income came amid increased tax expenses in the absence of a higher writeback in the year-ago period.

Singapore

UNITED Overseas Bank (UOB) on Thursday performed a shade under market expectations with a 1.6 per cent rise in net profit for its first quarter, as a lift from gains in trading and fee income came amid increased tax expenses in the absence of a higher writeback in the year-ago