Singapore lender UOB Q4 profit jumps 48% on lower credit charges

Reuters
2022.02.15 23:15
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SINGAPORE, Feb 16 (Reuters) - United Overseas Bank Ltd (UOBH.SI) reported a 48% increase in its fourth-quarter profit on Wednesday as Singapore’s smallest listed lender said credit charges fell sharply. UOB’s October-December net profit rose to S$1.02 billion ($758.6 million) from a year earlier, compared with an average estimate of S$986 million from four analysts polled by Refinitiv. ($1 = 1.3446 Singapore dollars)

SINGAPORE, Feb 16 (Reuters) - United Overseas Bank Ltd

(UOBH.SI) reported a 48% increase in its fourth-quarter profit on Wednesday as Singapore’s smallest listed lender said credit charges fell sharply.

UOB’s October-December net profit rose to S$1.02 billion ($758.6 million) from a year earlier, compared with an average estimate of S$986 million from four analysts polled by Refinitiv. ($1 = 1.3446 Singapore dollars)

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