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UOB looks to ‘resilient’ Asean to continue to drive growth as Q4 profit beats estimates

The bank is stepping up efforts to enhance productivity

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Tan Nai Lun
Chong Xin Wei

Tan Nai Lun &

Chong Xin Wei

Published Wed, Feb 19, 2025 · 01:29 PM
    • UOB on Wednesday posted a net profit of S$1.52 billion for Q4 ended Dec 31, 2024, up 8.6% from S$1.4 billion a year earlier.
    • UOB on Wednesday posted a net profit of S$1.52 billion for Q4 ended Dec 31, 2024, up 8.6% from S$1.4 billion a year earlier. PHOTO: BT FILE

    UOB remains confident that Asean economies will be resilient and continue to expand, even as the outlook remains uncertain amid ongoing geopolitical tensions and tariff concerns.

    While US tariff policies will likely hit the region, chief executive Wee Ee Cheong remains “hopeful” as he watches for its effects.

    “We are closely monitoring developments, and so far Asean continues to be resilient,” he said at the lender’s fourth-quarter results briefing on Wednesday (Feb 19).

    UOBFinancial resultsSingapore banksInterest ratesAsean

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