Singapore's UOB H1 net profit rises

United Overseas Bank

07/08/2026 24:03

Overview
Singapore bank's 1H26 net profit rose 3% yr/yr to S$2.92 bln
Net interest income for 1H26 fell 3% yr/yr due to margin pressures
Wealth management and fee income offset softer investment banking fees

Outlook
Company sees significant opportunities to grow wealth and support cross-border ambitions across ASEAN
Company expects 2026 loans growth to be in low single-digit 

Result Drivers
WEALTH MANAGEMENT FEES - Co said wealth management income for 1H26 rose 16% yr/yr, driven by growth in assets under management and strong client demand for investment products
TRADE LOANS IN ASEAN - Co said trade loans grew 14% yr/yr in ASEAN-4 markets, reflecting robust client demand for cash management and trade solutions
MARGIN PRESSURES - Co said net interest income fell 3% yr/yr due to margin compression in the prevailing rate environment

Company press release: ID:nSN7BTPtL

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Net Income
 
S$2.92 bln
 
H1 Net Interest Income
 
S$4.60 bln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 10 "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 Ltd is S$45.00, about 3.3% above its August 6 closing price of S$43.58
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 11 three months ago

Reuters Recommended Reads
Aug 5 - Singapore's UOB to sell asset management business to Allianz unit for $434 million
Aug 6 - Singapore's OCBC H1 net profit rises 13% to record on wealth, insurance income growth
Aug 6 - DBS shares scale record high as bank lifts forecast after profit beat

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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.)