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UOB Q2 earnings rise 5% to S$801m
CEO Wee Ee Cheong says bank has enough reserves to withstand pressures from rising credit cost
Published Thu, Jul 28, 2016 · 09:50 PM
Singapore
AMID a "roller coaster ride" in global markets fanned by a commodity slump, slowing China and Brexit uncertainties, United Overseas Bank (UOB) posted a 5 per cent increase in second-quarter net profit to S$801 million.
The improvement - it beat Bloomberg analyst estimates of S$769 million - was mainly led by growth in non-interest income which grew 13.9 per cent to S$813 million on the back of higher net trading income.
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