The Business Times
business-time-50
SUBSCRIBERS

UOB posts sparkling Q2 earnings, but CEO expects home loans and home prices to slide

Wee Ee Cheong says the bank's diversified footprint and customer franchise will blunt the effect of global uncertainties

google-preferred-sourceAdd BT as a preferred source
Published Fri, Aug 3, 2018 · 09:50 PM

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    UOB

    Singapore

    GOOD news was announced at UOB's Q2 earnings briefing on Friday, despite its chief executive Wee Ee Cheong projecting a drop in home loans and the prospect of housing prices falling over time as last month's property measures hit home.

    The bank posted record Q2 earnings. Net profit jumped to S$1.08 billion, 28 per cent higher than a year ago and 10 per cent up from the previous quarter, due to overall strong operating income. This beat estimates provided by S&P Global Market Intelligence of S$967 million.

    UOBDBSWee Ee Cheong

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback

    TRENDING NOW

    Property-based taxes may have limited room to run – and pushing them further risks hitting the wrong people, observers say.

    In taxing wealth, how far can Singapore push property owners?

    In this economy, the smartest bets might no longer be sitting an ocean away, but are waiting right here at home.

    ‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival

    Malaysia Madani, or Civil Malaysia, is Prime Minister Anwar Ibrahim's slogan encapsulating positive values (such as humanity and strong governance) that would shape policy direction. But the "corporate mafia" claims have now cast the spotlight on governance credibility.

    From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?

    The fourth Amity Circle retreat was hosted by Temasek Foundation from Apr 8 to 10 in Hanoi.

    Middle East-linked energy supply shocks put Asean Power Grid back in focus

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More