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Home / Capital / Results

UOB reports 40% lower 3Q net earnings of $668 mil, shores up $339 mil of credit allowance for the quarter

Results

UOB reports 40% lower 3Q net earnings of $668 mil, shores up $339 mil of credit allowance for the quarter

Felicia Tan Published on Wed, Nov 04, 2020 / 8:11 AM GMT+8

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UOB Group reported net profit after tax (NPAT) or net earnings of $668 million for 3QFY2020 ended September, some 40% lower than the net earnings of $1.12 billion the year before, due to the pre-emptive build-up of credit allowance of $339 million in the quarter.

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