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Hot stock: UOB drops 4.5% to S$29.61 despite posting record interest income

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Yong Hui Ting

Yong Hui Ting

Published Thu, Feb 23, 2023 · 11:15 AM
    • Analysts think this could be an “accumulation” opportunity given UOB’s accretive acquisition of Citigroup’s Asean operations, which is expected to bear fruit over the next one to two years.
    • Analysts think this could be an “accumulation” opportunity given UOB’s accretive acquisition of Citigroup’s Asean operations, which is expected to bear fruit over the next one to two years. PHOTO: BT FILE

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

    SHARES of UOB were down as much as 4.5 per cent to S$29.61 as at 11 am on Thursday (Feb 23), hours after the bank announced a record net interest income for its second half of the year ended December 2022.

    One married trade was recorded according to ShareInvestor data. The deal saw 88,800 shares change hands at the price of S$30.99 at 8.35 am, before the market opened.

    The lender on Thursday posted a 24 per cent increase in net profit for H2 FY2022 to S$2.6 billion.

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