UOB posts record quarter; net earnings up 12% y-o-y to S$883m

Singapore

UNITED Overseas Bank turned in a record quarter for the three months ended Sept 30, even as its oil and gas loan book continued to come under pressure.

The bank said yesterday net earnings rose 12 per cent year-on-year to S$883 million, driven by broad-based growth in both net interest income and non-interest income.

Total income rose 10 per cent from a year ago to S$2.24 billion.

Net interest income increased 15 per…