Hot on the heels of OCBC Ltd’s (SGX: O39) quarterly earnings release comes the latest report card from United Overseas Bank Ltd (SGX: U11), or UOB.
And the lender did not disappoint, either.
Net profit for its fiscal 2021 third quarter (3Q2021) stayed above the S$1 billion mark for the third consecutive quarter.
Amid supply chain disruptions and China’s slowing economy, UOB has managed to report stronger year on year numbers.
This good performance demonstrates the bank’s resilience and investors can look forward to more good results as the lender invests in connectivity and digital innovation.
Here are five key highlights from UOB’s latest earnings report.
An impressive set of numbers
UOB recorded year on year growth for both its net interest income (NII) and fee cum commission income for the quarter.
NII increased by 9% year on year to S$1.6 billion while fee income jumped by 15% year on year to S$589 million....