United Overseas Bank (UOB) has reported a 43% y-o-y growth in earnings of $1.0 billion for the 2QFY2021 ended June, bringing its total net earnings for the 1HFY2021 to $2.0 billion, 29% higher than earnings of $1.56 billion for the corresponding period the year before.
See: UOB Kay Hian predicts DBS and OCBC to post net profit of $1.54 bil and $1.20 bil in 2Q21
The higher earnings were supported by stable net interest margin (NIM), record fees and lower credit allowance.
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