SINGAPORE (Reuters) – Singapore’s United Overseas Bank reported on Thursday a 22% rise in net profit in the fourth quarter from a year earlier on the back of higher net fee and non-interest income.
UOB, which is Southeast Asia’s third-largest bank by assets, said October-December net profit climbed to S$1.40 billion ($1.04 billion) from S$1.15 billion a year earlier.
This beat the mean estimate of S$1.37 billion from three analysts polled by LSEG.
The bank recommended the payment of a final dividend of 85 Singapore cents per share, bringing the total dividend for 2023 to S$1.70 per share.
($1 = 1.3439 Singapore dollars)
(Reporting by Yantoultra Ngui; Editing by Chris Reese and Cynthia Osterman)
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