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UOB reports 11% higher net profit of $1.1 bil for 2QFY2022

Felicia Tan
Felicia Tan7/29/2022 07:44 AM GMT+08  • 5 min read
UOB reports 11% higher net profit of $1.1 bil for 2QFY2022
The bank has declared an interim dividend of 60 cents per share, unchanged from the year before. Photo: Bloomberg
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United Overseas Bank (UOB) has reported a net profit of $1.11 billion for the 2QFY2022 ended June, 11% higher than the net profit of $1.0 billion reported in the same period the year before.

See: UOB's current P/BV at 1x represents 'attractive entry point' into banking sector: CGS-CIMB, UOB Kay Hian maintains 'overweight' on Singapore banks and DBS keeps 'buy' on UOB and OCBC while largely positive on Singapore banks

The higher y-o-y earnings were due to the expanded margins and the recovery in trading and investment income.

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