UOB posts 32% drop in Q4 profit to $688 million

UOB said on Thursday (Feb 25) that October-December net profit slumped to $688 million from a year earlier.

SINGAPORE (REUTERS) – United Overseas Bank reported a 32 per cent fall in quarterly profit as Singapore’s smallest listed bank said its net interest income declined and credit losses swelled.

UOB said on Thursday (Feb 25) that October-December net profit slumped to $688 million from a year earlier, in line with an average estimate of $696.3 million of four analysts, according to data from Refinitiv.