Singapore Stock Market News

United Overseas Bank - 2Q18: Rewarding Shareholders With More Dividends

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Publish date: Mon, 06 Aug 2018, 11:49 AM
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UOB's net profit crossed the S$1b mark for the first time to S$1,077m, representing growth of 27.5% yoy. Net interest income and fee income grew at double-digit rates of 13.7% and 11.2% respectively. Provisions dropped 50% yoy as exposure to the vulnerable O&G and shipping sectors were already recognised as NPLs and sufficient provisions were set aside in 2017. Management is committed to a dividend payout ratio of 50%, subject to minimum CET-1 CAR of 13.5% and sustainable financial performance. Read More
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