UOB's Q2 Profit Up 32% On Loan Growth

Source : Channel NewsAsia, 07 August 2007

Singapore's United Overseas Bank (UOB) has reported a 32% rise in its second-quarter profit, excluding exceptional gains, as a construction and property boom fuelled strong loan growth.





UOB posted a net profit of S$585m for the April-June period, up from S$443m, excluding exceptional items, a year ago.

UOB is Singapore's second-biggest lender, after DBS Group Holdings whose Q2 net profit jumped 21%, excluding one-offs, due to higher loan income and strong fees.

Oversea-Chinese Banking Corporation (OCBC), the smallest of Singapore's three banks, will report its earnings on Wednesday. - CNA/ir