OCBC and UOB Post Weaker 4Q Result, in Line with Global Peers
In line with banks in the region and globally, narrow-moat-rated Oversea-Chinese Banking Corp, or OCBC, and United Overseas Bank, or UOB, reported weaker fourth-quarter results, mainly driven by lower trading income and weaker fee and commission income. The lower fee and commission income were attributable to the wealth management division as investors stayed on the side lines in the quarter while loan-related fees also declined. Net profit for UOB fell 12% quarter on quarter while mark-to-marke...Oversea-Chinese Banking is engaged in the in the business of banking, life assurance, general insurance, asset management, investment holding and stockbroking. Co.'s segments include: Global Consumer Financial Services, which provides deposit products, consumer loans, credit cards and wealth management products; Global Corporate Banking, which provides long-term loans, short-term credit, deposit accounts and fee-based services such as cash management and custodian services; Global Treasury, which is engaged in foreign exchange activities, money market operations, fixed income, as well as structured treasury products; and Insurance, which provides both life and general insurance products.
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