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UOB to see strong profit momentum to continue: DBS

Samantha Chiew
Samantha Chiew8/6/2018 11:17 AM GMT+08  • 3 min read
UOB to see strong profit momentum to continue: DBS
SINGAPORE (Aug 6): DBS is upgrading its call on United Overseas Bank (UOB) to “buy” from “hold” previously with an increased target price of $31.70.
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SINGAPORE (Aug 6): DBS is upgrading its call on United Overseas Bank (UOB) to “buy” from “hold” previously with an increased target price of $31.70.

This came on the back of the bank recording record earnings for 2Q18, as loan growth and fee income continues to drive its growth amid lower credit costs.

UOB’s 2Q18 earnings reached a new high of $1.08 billion, 28% higher y-o-y than 2Q17. This brings 1H18 earnings to a record high of $2.05 billion, up 24% from a year ago.

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