UOB's Q4 profit within analyst expectations

Earnings rise 1.7% to S$786m; bank doesn't see systemic weakness in its loan books

Published Fri, Feb 13, 2015 · 09:50 PM

Singapore

BACKED by broad-based growth, United Overseas Bank (UOB) on Friday posted fourth-quarter earnings that came within market expectations despite a dip in margin.

UOB reported a 1.7 per cent year-on-year rise in net profit to S$786 million for the October-December 2014 quarter. This came within the average forecasts of two analyst polls - Reuters' S$759 million and Bloomberg's S$787.5 million.

For the full year, net earnings were S$3.25 billion, up 8 per cent as net interest income and non-interest income delivered double-digit growth.

Bigger rivals DBS Group Holdings and OCBC Bank, the other two Singapore banking groups which reported their results earlier in the week, missed analysts' expectations, in par…