UOB Q3 net profit almost trebles to S$1.25 billion off low base, but misses forecasts

[SINGAPORE] UOB posted a 182.2 per cent rise in net profit for the third quarter ended Sep 30, 2026, to S$1.25 billion, from S$443 million in the year-ago period.

Its results released on Wednesday (Nov 4) missed the S$1.38 billion consensus forecast among six analysts polled by Bloomberg.

The increase came off a low base, after UOB’s net profit dived 72 per cent in Q3 2025, weighed down by S$1.36 billion in allowances for credit and other losses amid macroeconomic uncertainties and sector-specific headwinds.

Earnings in the latest quarter were supported by record net fee income on the back of growth in the lender’s wealth, cards and loan-related businesses. Customer-related treasury income also reached a new high, driven by strong demand for hedging solutions.

Net interest income for the quarter grew one per cent to S$2.28 billion, from S$2.27 billion in the same period last year.

This came as net interest margin, a key measure of lending profitability, narrowed to 1.68 per cent, from 1.82 per cent previously.

THE BUSINESS TIMES INSIGHTS

Powering Asean's Future 2026

Find out how enterprises are navigating power constraints and sustainability targets

ACCESS THE INSIGHTS

Net fee income for Q3 2026 climbed 19 per cent on the year to S$733 million, from S$615 million previously.

Meanwhile, other non-interest income shed 29 per cent to S$370 million, from S$518 million last year, due to lower trading and investment income.

Allowances for credit and other losses was 81 per cent lower at S$258 million from S$1.36 billion in Q3 2025.

SEE ALSO

Singapore banks’ wealth fees may ease in Q3 as AI lending, bond yields draw scrutiny

DBS, OCBC, UOB face rate hike reality check

The lender’s non-performing loan ratio stood at 1.5 per cent, compared with 1.6 per cent a year earlier.

Earnings per share for the quarter came in at S$2.98, up from S$1.01 previously.

DBS and OCBC are set to release their Q3 results on Thursday and Friday, respectively.

Shares of UOB closed 0.5 per cent or S$0.20 lower at S$40.46 on Tuesday.