Singapore's UOB Q3 net profit misses forecasts; wealth momentum continues. Wednesday, 04 Nov 2026 | 8:20 AM MYT SINGAPORE: Singapore's United Overseas Bank, or UOB, on Wednesday posted a net profit for the July-September period that missed expectations, despite stronger loan-related activities and wealth management fees reaching an all-time high. UOB's third-quarter net profit of S$1.25 billion ($975.72 million) was more than double that of a year earlier, but the year-ago quarter was a low base due to a surge in credit provisions by the lender. The results underperformed the mean estimate of S$1.35 billion from two analysts, according to LSEG data. Here are some details: Net fee income jumped 19% on an annual basis to a record S$733 million, helped by strong growth in wealth, cards and loan-related activities Wealth management fees reached a record S$258 million in the third quarter, with net new money totalling S$5 billion in the first nine months of 2026 Trading and investment income slid 33% year-on-year to S$322 million owing to less favourable market conditions, the bank said. That weighed on its other non-interest income, which fell by 29% year-on-year to S$370 million UOB's net interest margin narrowed 6 basis points quarter-on-quarter to 1.68% due to higher funding costs For its 2027 outlook, the lender said it expects loan growth to come in at a mid-single-digit range, while it forecasts net interest income to be above 2026's levels. Meanwhile, it expects fee income to reach mid- to high-single-digit growth ($1 = 1.2811 Singapore dollars) - Reuters

UOB Q3 net profit S$1.25 billion, shares fall 5% after NIM miss. Profit up 182% off a low base, down 15% quarter on quarter. NIM 1.68%. Record fees S$733 million. Missed Bloomberg S$1.38 billion. First of the three banks this week. United Overseas Bank Limited (UEN 193500026Z) reported third-quarter net profit of S$1.25 billion, 182 per cent above the S$443 million a year earlier and 15 per cent below the S$1.48 billion in the second quarter. The year-ago quarter had S$1.36 billion of allowances. The latest quarter had none of the 2Q divestment gains. Six Bloomberg analysts had S$1.38 billion. The shares fell 5 per cent to S$38.44, a five-month low, after an intra-day print of S$37.84 and an open of S$38.30. UOB is the first of the three local banks this week. DBS reports on Thursday, OCBC on Friday. Net interest margin was 1.68 per cent, 14 basis points below 1.82 per cent a year earlier and 6 basis points below 1.74 per cent in the second quarter. Funding cost took 7 basis points off; volume and mix added 2. Chief financial officer Leong Yung Chee said full-year NIM is likely to come in below the earlier 1.75 to 1.80 per cent guidance. Nine-month NIM is already 1.75 per cent. Net interest income still rose 1 per cent to S$2.28 billion, from S$2.265 billion, as loans grew. Net fee income hit a record S$733 million, up 19 per cent year on year and 10 per cent quarter on quarter, on wealth, cards and loan-related work. Wealth itself set a record at S$258 million. Other non-interest income fell 29 per cent to S$370 million. Trading and investment income was S$322 million, down 33 per cent. Allowances were S$258 million, down 81 per cent. Credit cost was 24 basis points against 134. The cost-to-income ratio was 46.4 per cent. The non-performing loan ratio improved to 1.5 per cent from 1.6 per cent. Common Equity Tier 1 was 14.6 per cent. Nine-month net profit was S$4.17 billion, up 27 per cent. Assets under management were S$204 billion, up 3 per cent. Net new money in the nine months was S$5 billion. Expenses were S$1.57 billion, up 2 per cent. "The group continued to see healthy customer activity across our businesses this quarter, with strong growth in wealth management, healthy loan growth and record fees and customer-related treasury income." Wee Ee Cheong, Deputy Chairman and Chief Executive Officer, UOB, 4 November 2026 For 2027 the bank pointed to mid-single-digit loan growth, net interest income above 2026, and mid-to-high-single-digit fee growth. Wee said the quarter reflected the strength of a diversified franchise and deep customer relationships, and that the group will keep investing for the long term, backed by the balance sheet. The Business Times had the numbers around 7.21am. SingaporeBusiness Directory Sources. * United Overseas Bank Limited, 3Q 2026 results, 4 November 2026 * The Business Times, Benicia Tan, 4 November 2026, 7.21am, net profit almost trebles to S$1.25 billion, misses forecasts * The Straits Times, Sue-Ann Tan, 4 November 2026, shares fall over 5 per cent Related company Companies mentioned CompanyDirectory Search