Singapore · Delayed Price · Currency is SGD United Overseas Bank Earnings Call Transcripts
Fiscal Year 2026
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Q1 net profit reached SGD 1.4 billion, up 2% quarter-on-quarter but down 4% year-on-year, with stable NIM and strong asset quality. Integration of Citi portfolio is complete, supporting long-term growth ambitions, including doubling wealth income by 2030.
Fiscal Year 2025
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Full-year 2025 net profit reached SGD 4.7 billion, with resilient operating profit and record fee income offsetting lower net interest margins. Strong capital and liquidity positions, robust ASEAN growth, and disciplined cost management underpin a positive outlook, despite ongoing macroeconomic uncertainties.
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Q3 2025 saw SGD 1.9 billion operating profit, robust loan and fee growth, and a major SGD 615 million preemptive provision to strengthen coverage, mainly for U.S. and Greater China CRE risks. Capital and liquidity remain strong, with stable credit costs expected ahead.
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Operating profit for H1 2025 rose 3% year-on-year, but net profit declined 3% to SGD 2.8 billion due to higher reserves and margin compression. Fee income and retail growth were strong, while guidance was moderated amid macro uncertainties and tariff risks.
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Q1 2025 saw stable net profit of SGD 1.5 billion, strong capital and liquidity, and broad-based growth in lending, fees, and trading income. Asset quality and capital ratios remain robust, with prudent provisioning amid global uncertainties and ongoing capital returns to shareholders.
Fiscal Year 2024
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Full-year net profit hit a record SGD 6 billion, up 6% year-over-year, with strong fee and trading income and resilient asset quality. A SGD 3 billion capital return package was announced, and the outlook targets high single-digit loan growth and stable NIM at 2%.
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Record net profit of SGD 1.6B was achieved, with strong growth across all segments and ASEAN markets. Asset quality remains stable despite a one-off spike in Thai provisions, and capital management options like buybacks or higher dividends are under review.
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Core net profit for H1 2024 was SGD 3.1 billion, with stable asset quality and strong fee income growth. Loan and wealth management momentum continued, while Citi integration costs are tapering off. NIM is expected to hold at 2.05% for 2024.