by Amruth Sundarkumar | Feb 16, 2022 | Banks, Southeast Asia
UOB reported 48% YoY rise in its Q4 2021 net profits to S$1.02bn ($760mn), beating estimates of S$986mn ($733mn). Net fee and commission income came in at S$589mn ($438mn) up 13% YoY with loan-related fees and credit card fees picking up. For the full year, UOB...
by Amruth Sundarkumar | Jan 14, 2022 | Banks
Citigroup Inc. announced on Thursday that it has agreed to sell its consumer banking businesses in Indonesia, Malaysia, Thailand and Vietnam to Singapore’s United Overseas Bank (UOB) for S$4.9bn ($3.6bn). This comes close on the heels of Citigroup putting...
by Amruth Sundarkumar | Nov 3, 2021 | Banks, Singapore Dollar Bonds
UOB reported net profits of S$1.05bn ($780bn), up 57% YoY in Q3. Profits were helped by a reduction in allowances by 66% to S$163mn ($121mn) from a pre-emptive S$477mn ($353mn) general allowance taken last year. Besides, net interest income for the quarter increased...
by Amruth Sundarkumar | Jun 16, 2021 | Singapore Dollar Bonds
Singapore-based lender UOB raised S$600mn via a PerpNC7 AT1 bond at a yield of 2.55%, 30bp inside initial guidance of 2.85% area. The bonds have expected ratings of Baa1/BBB-/BBB+. If not called, the coupon resets at the end of the seventh year, June 22, 2028 to the...
by bondevalue | May 6, 2021 | Southeast Asia
UOB reported strong Q1 numbers with net profits up 18% YoY and 46% QoQ to S$1bn ($750mn). The bank said that fee income grew to a record high of S$638mn ($478mn) led by wealth management fees from investments and bancassurance similar to peer DBS which reported...
