UOB profit rebounds to S$1.25 billion, below analyst expectations
Record fees helped support third-quarter earnings as loss allowances declined 81 per cent to S$258 million.
Singapore lender UOB announced third-quarter earnings of S$1.25 billion on Nov 4, up 182.2 per cent from the year-earlier S$443 million. Profit for the quarter ended Sept 30, 2026, fell short of the Bloomberg analyst consensus of S$1.38 billion, based on six forecasts.
The comparison reflected a weak year-earlier quarter, when profit dropped 72 per cent after UOB recorded S$1.36 billion in allowances covering credit and other losses amid macroeconomic uncertainty and sector-specific pressures. The latest quarter’s allowances totalled S$258 million, a decline of 81 per cent.
UOB said growth across wealth, cards and loan-related operations pushed net fee income to a record. Fees reached S$733 million, increasing 19 per cent from S$615 million. Demand for hedging solutions also lifted treasury income from customer activity to a new high.
Interest income on a net basis rose 1 per cent, from S$2.27 billion to S$2.28 billion. Lending profitability nevertheless narrowed: the net interest margin was 1.68 per cent, against 1.82 per cent a year earlier.
Weaker trading and investment income brought other non-interest income down to S$370 million, a 29 per cent fall from S$518 million. Non-performing loans accounted for 1.5 per cent, versus 1.6 per cent in the previous year’s quarter.
The results came ahead of those from Singapore peers DBS and OCBC, scheduled for Nov 5 and Nov 6 respectively. Before the announcement, UOB shares ended Tuesday at S$40.46, down S$0.20 or 0.49 per cent.
