UOB’s third-quarter results missed expectations due to large provisions for commercial real estate. The bank’s net profit of $443 million was down 67% q-o-q and 72% y-o-y.
Investors may have sent DBS Group Holdings’ shares to an all-time high on Nov 6 following the release of its third-quarter results and sold United Overseas Bank (UOB) down some 2.8% the same day — but OCBC Investment Research head Carmen Lee recommends investors do the opposite.
In two reports released Nov 6, the same day DBS and UOB posted their results for 3QFY2025 ended Sept 30, OCBC’s Lee recommends investors “buy” UOB amid its “price correction” and “hold” DBS as its “attractive” dividend yield “will continue to provide price support”.
