UOB Reports Record Profit Amid ASEAN Growth

UOB (SG:U11) has released an update.

UOB Group has achieved a record core net profit of S$1.6 billion for the third quarter of 2024, marking an impressive 11% year-on-year increase. This growth is attributed to strong performance across its diverse business segments, particularly in wholesale banking, and successful integration of Citigroup’s portfolio in Southeast Asia. Despite global economic volatility, UOB remains confident in ASEAN’s economic potential, supported by robust fundamentals and a surge in foreign investments.

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