SINGAPORE: Singapore’s United Overseas Bank ( UOB ) maintained its guidance for 2025 after posting on Wednesday ( Feb 19 ) a 9 per cent rise in fourth-quarter net profit that beat expectations and announcing a S$ 3 billion ( US$ 2.24 billion ) package to return surplus capital.
Our long-term opportunities in local channels and abilities are paying off, and we anticipate continued profits rise this time,” UOB CEO Wee Ee Cheong said in a statement.
UOB, Singapore’s third-biggest bank, said October-December net earnings climbed to S$ 1.52 billion from S$ 1.40 billion a year earlier on the back of higher online curiosity money supported by borrowing growth.
This far exceeded the median estimate of nearly S$ 1.46 billion from the four LSEG researchers ‘ polls.
UOB, which is also Southeast Asia’s third-largest banks by property, expected its 2025 cost-to-income amount to be around 42 per share, the top end of the 41 per share to 42 per cent collection it had projected in November.
Other than that, the institution kept its outlook for 2025, according to Wee’s display presentations accompanying the fourth-quarter profits.
The results from UOB surpassed those of its larger rival, DBS Group, which last year announced a 10 % year-on-year increase in fourth-quarter net income that met expectations and announced a dividend capital gain strategy.
This sent stock to a record high, as much as 1.4 per cent of S$ 39.20 per share.
Analysts predicted that Taiwanese banks would publish stronger profits for the third quarter, but development was suffer as a result of US President Donald Trump’s industry tariffs and other policies, according to analysts.
UOB announced a capital gain plan to deliver surplus funds over the next three years in addition to its outcomes. That includes a S$ 2 billion share buyback program and a unique income of 50 Singapore cents per share for 2025.
In contrast to the 85 Singapore percent announced during the same quarter a year ago for 2023, it declared a last income of 92 Singapore cents per share for 2024.
Online interest ratio, a crucial measure of profitability, narrowed somewhat to 2.00 , per cent in the third quarter from 2.02 , per cent in the same period a year earlier.
On February 26, Rival Oversea-Chinese Banking Corporation is scheduled to release its economic benefits.