PLTY

[SINGAPORE] UOB posted a 182.2 per cent rise in net profit for the third quarter ended Sep 30, 2026, to S$1.25 billion, from S$443 million the year before.

Its results released on Wednesday (Nov 4) missed the S$1.38 billion consensus forecast among six analysts polled by Bloomberg.

The increase came off a low base, after UOB’s net profit dived 72 per cent in the year-ago period, weighed down by S$1.36 billion in allowances for credit and other losses amid macroeconomic uncertainties and sector-specific headwinds.

Earnings in the latest quarter was supported by record net fee income on the back of growth in the lender’s wealth, cards and loan-related businesses.

Net interest income for the quarter grew 1 per cent to S$2.28 billion, from S$2.27 billion in the same period last year.

This came as net interest margin, a key measure of lending profitability, narrowed to 1.68 per cent, from 1.82 per cent previously.

Net fee income for the quarter climbed 19 per cent on the year to S$733 million, from S$615 million previously.

Meanwhile, other non-interest income shed 29 per cent to S$370 million, from S$518 million last year, due to lower trading and investment income.

Allowance for credit and other losses was 81 per cent lower at S$258 million from S$1.36 billion in the year prior.

The lender’s non-performing loan ratio stood at 1.5 per cent, compared with 1.6 per cent a year earlier.

UOB was the first of Singapore’s three local banks to report third-quarter earnings, with DBS and OCBC set to release their results on Nov 5 and Nov 6, respectively.