UOB Bank's earnings slipped 1% to $858 million in the third quarter ended Sept 30, 2015, from $866 million a year ago.
That is a smaller slippage compared with the $812 million earnings average of seven analysts’ estimates compiled by Bloomberg.
To commemorate the bank’s 80th anniversary, UOB is also declaring a one-off 80th Anniversary dividend of 20 cents per share.
In the three months to end Sept, UOB’s net interest income rose 6.9% to $1.24 billion from $1.16 billion previously.
Net interest margin increased 6 basis points to 1.77%, mainly driven by improved loan yields as the loan portfolio re-priced on rising interbank and swap offer rates in Singapore.
UOB's non-interest income rose 4.2% to $850 million, driven by higher fee and commission income and trading and investment income.
Meanwhile, the bank's gross loans grew 3.7% to $203 billion as at Sept 30, 2015. In constant currency terms, the underlying loan growth was 5.5% when compared to the same period last year.
Customer deposits climbed 9% to $245 billion as at Sept 30, 2015, led mainly by growth in Singapore dollar deposits. UOB's loan-to-deposit ratio stood at 81.6%.
The bank's asset quality remained resilient with a non-performing loan (NPL) ratio of 1.3% as at Sept 30, 2015. NPL coverage stayed strong at 142.7% and 345.4% if collateral was considered.
"Today, even as uncertainty prevails, our values will continue to steer us on the right path of sustainable growth," says UOB deputy chairman and CEO, Wee Ee Cheong.
UOB ended higher at $20.04 yesterday.
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That is a smaller slippage compared with the $812 million earnings average of seven analysts’ estimates compiled by Bloomberg.
To commemorate the bank’s 80th anniversary, UOB is also declaring a one-off 80th Anniversary dividend of 20 cents per share.
In the three months to end Sept, UOB’s net interest income rose 6.9% to $1.24 billion from $1.16 billion previously.
Net interest margin increased 6 basis points to 1.77%, mainly driven by improved loan yields as the loan portfolio re-priced on rising interbank and swap offer rates in Singapore.
UOB's non-interest income rose 4.2% to $850 million, driven by higher fee and commission income and trading and investment income.
Meanwhile, the bank's gross loans grew 3.7% to $203 billion as at Sept 30, 2015. In constant currency terms, the underlying loan growth was 5.5% when compared to the same period last year.
Customer deposits climbed 9% to $245 billion as at Sept 30, 2015, led mainly by growth in Singapore dollar deposits. UOB's loan-to-deposit ratio stood at 81.6%.
The bank's asset quality remained resilient with a non-performing loan (NPL) ratio of 1.3% as at Sept 30, 2015. NPL coverage stayed strong at 142.7% and 345.4% if collateral was considered.
"Today, even as uncertainty prevails, our values will continue to steer us on the right path of sustainable growth," says UOB deputy chairman and CEO, Wee Ee Cheong.
UOB ended higher at $20.04 yesterday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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