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UOB Q2 profit rises 5.1% to S$801m; bank to pay out S$0.35 per share

Thursday, July 28, 2016 - 07:44

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United Overseas Bank's (UOB) net profit for the second quarter ended June 30, 2016, rose 5.1 per cent to S$801 million, or 1.94 Singapore cents per share on an annualised basis.

UNITED Overseas Bank's (UOB) net profit for the second quarter ended June 30, 2016, rose 5.1 per cent to S$801 million, or 1.94 Singapore cents per share on an annualised basis.

The bank has declared an interim dividend of 35 Singapore cents per share. The stock closed at S$18.94 on Wednesday before the results were announced.

For the six months ended June 30, net profit stood at S$1.6 billion, up 0.2 per cent.

Net interest income slipped 0.2 per cent in the second quarter to S$1.2 billion, while net interest margin slipped to 1.68 per cent from the year-ago margin of 1.77 per cent.

Non-performing loans (NPLs) rose 22 per cent from a year ago to S$3.1 billion as at end-June. Including S$108 million in debt securities and others, total non-performing assets were S$3.2 billion as at June 30.

As a percentage of gross customer loans, the NPL ratio increased to 1.4 per cent from 1.2 per cent a year earlier.

sentifi.com

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