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United Overseas Bank Limited (UOB)
Singapore economy
Singapore’s July NODX contracts by 20.2% y-o-y mainly due to declines to the EU 27, Taiwan and China (update)
Total trade fell by 20.8% y-o-y in July as both exports and imports decreased.
August 17, 2023
Broker's Calls
Analysts overall positive on UOB after ‘decent’ 2QFY2023 results
Analysts have mostly kept their "add" or "buy" calls except DBS, which has kept its "hold" call.
August 01, 2023
Results
UOB reports net profit of $1.4 bil for 2QFY2023, 27% higher y-o-y; declares interim dividend of 85 cents per share
Without the one-off integration expenses from the Citi acquisition, UOB's earnings would've been up by 35% y-o-y to $1.5 billion.
July 27, 2023
Broker's Calls
UOB’s credit cards’ contribution to fee income could see highest y-o-y growth thanks to Taylor Swift concert: Bloomberg
For all three Singapore banks, credit cards could become a ‘bright spot’ for fee income this year.
July 25, 2023
Singapore economy
Singapore’s GDP up by 0.7% in 2Q2023: MTI estimates
Overall GDP was dragged by the contraction in the manufacturing sector.
July 14, 2023
Broker's Calls
Impact of Basel IV on Singapore banks ‘manageable’: Bloomberg
Capital in Singapore banks looks to remain ‘robust’ in second half of the year as well, says Bloomberg Intelligence's Rena Kwok.
July 13, 2023
Broker's Calls
UOB’s 2QFY2023 earnings to be 'sequentially softer' as NIMs start slipping: CGS-CIMB
Analysts Andrea Choong and Lim Siew Khee have reiterated their “add” call, with an unchanged target price of $33.30.
July 13, 2023
Broker's Calls
RHB downgrades banks to 'neutral'; UOB named top pick
UOB is the only bank with a "buy" call after OCBC was downgraded to "neutral" on July 5.
July 10, 2023
Artificial Intelligence
MAS-led consortium releases version 2.0 of open-source framework on responsible use of AI in finance
The consortium is made up of 32 industry players and is meant to provide guidance to firms on how to use AI responsibly.
June 26, 2023
Special Event
How companies are transforming their businesses sustainably
The Edge Singapore held its first sustainability investment forum on June 13 with Straits Developments, UOB and LGT.
June 22, 2023