UOB reports 5.4% rise in 1Q earnings to $807 mil

SINGAPORE (April 28): UOB reported 1Q earnings of $807 million, 5.4% higher than a year ago.

Net interest income grew 2.3% to $1.30 billion, largely driven by broad-based loan growth. Net interest margin decreased 5 basis points to 1.73%. Non-interest income increased 18.0% to $819 million in 1Q17.

Fees and commission income rose 17.5% to $508 million, driven by higher fund management and wealth management income. Trading and investment income also registered an increase of 20.5% to $243 million due to higher trading income.

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