Home Capital Broker's Calls

Wealth Management to sustain UOB’s earnings ahead

Michelle Zhu
Michelle Zhu7/31/2017 10:29 AM GMT+08  • 2 min read
Wealth Management to sustain UOB’s earnings ahead
SINGAPORE (July 31): OCBC Investment Research is maintaining its “hold” recommendation on United Overseas Bank (UOB) with a higher fair value estimate of $23 after factoring in higher FY17 projections to account for higher fee income in 2H17.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (July 31): OCBC Investment Research is maintaining its “hold” recommendation on United Overseas Bank (UOB) with a higher fair value estimate of $23 after factoring in higher FY17 projections to account for higher fee income in 2H17.

The bank recently reported a 5.5% rise in 2Q earnings to $845 million, beating the consensus estimate of $816 million with its management guiding for flat or slightly higher net interest margin (NIM) for the full year, recalls lead analyst Carmen Lee in a report last Friday.

Noting the management’s view of a bottoming local residential market, Lee highlights that while the Singapore Property Price Index recorded its 15th quarter of decline for the June quarter, it is also the slow pace of quarterly decline in the past few years.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.