UOB Reports Record Profit Amid ASEAN Growth
Company Announcements

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.

For further insights into SG:U11 stock, check out TipRanks’ Stock Analysis page.

Related Articles
TheFlyUnited Overseas Bank upgraded to Buy from Neutral at Goldman Sachs
Carrie WilliamsUOVEF Upcoming Earnings Report: What to Expect?
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App