Strong Net Interest Income and Fees Lift UOB's 4Q Result; Special Dividend Announced
Stronger net interest income, or NII, and fee and commission income underpinned United Overseas Bank's, or UOB's, fourth quarter, with net profit increasing 8% on the same period last year to SGD 855 million. This was lower compared with the third quarter but mainly due to the seasonally higher operating expense in the fourth quarter. Full-year net profit of SGD 3.39 billion was largely in line with our SGD 3.33 billion forecast, with higher NII and fee income offset by greater than expected ope...
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