UOB expects moderate growth this year

Singapore

UNITED Overseas Bank (UOB) remains positive for the year ahead although it guided for slightly slower growth as fourth-quarter profits came in ahead of expectations.

"Despite short-term volatility in this part of the world, we remain optimistic on Asia's long-term economic fundamentals," chief executive Wee Ee Cheong said at a media briefing.

Singapore's third-largest bank by market capitalisation said net profit for the quarter ended December grew 11.1 per cent to $773 million, or $1.94 per share on an annualised basis…