UOB Reports Record Profit in Q3 2024
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 20 2024
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Source: Business Insider
UOB Q3 Earnings Report: United Overseas Bank (UOB) reported a record net profit of S$1.6 billion for Q3 2024, an 11% increase year-on-year, driven by growth across various business segments and successful integration of Citigroup’s portfolio in ASEAN markets.
Financial Highlights and Outlook: The bank maintained a non-performing loan ratio of 1.5%, saw a 10% rise in core operating profit to S$2.2 billion, and remains optimistic about the long-term potential of the ASEAN region, supported by strong economic fundamentals and foreign direct investment.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
