SINGAPORE Nov 7 United Overseas Bank,
the smallest of Singapore's three banking groups, on Wednesday
posted an almost 36 percent rise in third-quarter net profit,
helped by strong fee and commission income and trading gains.
UOB earned S$707 million ($577.52 million) in the three
months ended in September, compared to S$522 million a year
earlier. The results beat the S$652 million average estimate of
five analysts polled by Thomson Reuters.
The Singapore bank said net interest income in the third
quarter grew 6.1 percent to S$971 million from a year earlier
even though interest rate margins were weak. Trading and
investment income tripled to S$173 million.
DBS Group, Singapore's and Southeast Asia's largest
lender, last week posted a 12 percent rise in third-quarter net
profit, beating expectations on a sharp drop in bad debt charges
and on double-digit growth in income from its core lending
($1 = 1.2242 Singapore dollars)
(Reporting by Saeed Azhar)