The Business Times
business-time-50

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

The bank is stepping up efforts to enhance productivity

Summarise
google-preferred-sourceAdd BT as a preferred source
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

    TRENDING NOW

    Traffic through the strait has been resuming but with interruptions, and there is still little clarity over a permanent solution for passages through the chokepoint.

    Qatari LNG ship struck in Strait of Hormuz, testing US talks

    This comes after a Citi note on Tuesday that lifted target prices for all Singapore banks, with a leading preference and “buy” call for DBS.

    DBS, OCBC and UOB shares hit all-time highs as sentiment improves

    Aster deputy CEO Andre Khor, citing the age of the “polycrisis”, says: “It’s very important to be agile, to be focused on execution… We don’t know all the answers but we keep going forward.”

    ‘Baptism of fire’: Andre Khor on leading Singapore refiner Aster through an energy crisis

    Singapore is ranked as the world’s most expensive city for cars and placed third globally for residential property, according to Julius Baer.

    Singapore retains top spot as most expensive city for HNWIs, with five Apac cities in global top 10

    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