UOB's Q3 profit rises 3.3%

UNITED Overseas Bank (UOB) yesterday recorded a better than expected third-quarter net profit of $730 million, up 3.3 per cent year on year, driven by loans growth and stable margins. Although the $730 million was down 6.8 per cent quarter on quarter, it was higher than analysts' expectations of $703 million in a Bloomberg poll.

Annualised earnings per share were $1.74, down from $1.97 in Q2 but higher than $1.69 from a year ago. Return on equi…