UOB outlook lags that of DBS, OCBC amid spotlight on asset quality in Q3

[SINGAPORE] The market outlook for UOB has turned cautious compared with that for DBS and OCBC, amid greater concerns over the former’s asset quality.

This came after UOB missed expectations when it posted a 72 per cent fall in its net profit to S$443 million for Q3, driven largely by pre-emptive provisions.

Analysts remained positive on DBS and OCBC, however, given resilient results supported by strong non-interest income in the quarter.