UOB to pay shareholders 88-cent interim dividend as Q2 profit rises 10% to $1.48 billion
Q2 net profit beat analysts’ expectations of $1.45 billion in a Bloomberg poll.
UOB reported a 10% increase in second-quarter net profit, reaching $1.48 billion, surpassing analyst projections. The bank's net fee income expanded by 5% to $665 million, driven by robust wealth and fund management activities. Despite a 2% decline in net interest income to $2.3 billion, UOB maintained a 50% payout ratio for the interim dividend of 88 cents per share.
The bank anticipates modest fee income growth and loan growth for 2026, keeping its guidance largely unchanged. UOB's CEO, Wee Ee Cheong, highlighted the company's potential for growth in wealth management and expansion across ASEAN. UOB's second-quarter earnings were announced on August 7, with DBS and OCBC following suit on August 6 and 7, respectively.
Written by urgent.news from Straits Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
