Singapore · Delayed Price · Currency is SGD United Overseas Bank Earnings Call Transcripts
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 despite a 4% year-over-year decline. Strong ASEAN performance, robust capital, and disciplined cost management underpin a positive outlook, with cautious guidance for 2026 amid global 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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Core net profit for H1 2024 was SGD 3.1 billion, with strong fee and loan growth, resilient asset quality, and a stable NIM of 2.05%. Citi integration is progressing well, digital adoption is high, and guidance for 2024 remains positive despite global uncertainties.