Singapore's United Overseas Bank Q3 profit falls from previous quarter

United Overseas Bank

03/11/2026 23:10

Overview
Singapore bank's Q3 net profit was down 15% quarter-on-quarter
Net fee income hit record S$733 mln, up 19% yr/yr
Trading and investment income fell to S$322 mln amid less favorable market conditions

Outlook
UOB did not provide specific financial guidance for upcoming quarters or full year in its press release

Result Drivers
WEALTH AND LENDING FEES – Record fee income was driven by strong loan-related activity and sustained wealth-management growth
LOAN GROWTH – Loan growth of 3% offset a 6-bps net interest-margin decline amid higher funding costs, keeping net interest income stable q/q
ABSENT DIVESTMENT GAINS – Q3 net profit fell 15% q/q primarily due to the absence of asset divestment gains recognised in Q2

Company press release: ID:nSNH3yl4

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Net Income
 
S$1.25 bln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 11 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy."
Wall Street's median 12-month price target for United Overseas Bank Limited is S$44.80, about 10.7% above its November 3 closing price of S$40.46
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)