UOB posts 9.2% rise in Q1 profit

Singapore

IT WAS a decent start to the year for United Overseas Bank (UOB) with first-quarter net profit up 9.2 per cent at $788 million from a year ago.

The January-March results, which beat estimates of $742 million based on a Bloomberg poll, were mainly lifted by lower taxes from the write-back of previous years' income taxes.