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UOB's Q1 profit falls 4.4% on flat growth, higher costs

Total allowances on loans down 30.7% to S$117m but specific provisions on loans more than double to S$133m

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UOB's largest pool of non- performing loans remains captured under the transport, storage, and communication industry.

Singapore

UNITED Overseas Bank (UOB) on Thursday opened the results reporting session for the three Singapore banks with a 4.4 per cent fall in earnings for the first quarter, as higher costs came up against flat income growth, and higher tax expenses. Bad loans stayed concentrated in the