UOB's Q4 profit flat on higher expenses, bad debt provisions

Singapore

UNITED Overseas Bank posted flat fourth-quarter net earnings of S$788 million as higher income was offset by increases in expenses and provisions for rise in bad debts.

The bank announced final dividend of 35 Singapore cents; together with the interim dividend of 35 cents and the one-off 80th Anniversary dividend of 20 cents, the total payout for the 12 months ended Dec 31, 2015, is 90 cents. Total dividend in 2014 was 75 cents.

UOB, the first of the three local banks to report Q4 results, said on Tuesday that the S$788 million net profit was up 0.3 per cent from S$786 million a year ago.

That brought full-year 2015 net earnings to S$3.21 billion, 1.2…