UOB Aims to Double Wealth Income by 2030 After Q1 Beat
UOB aims to double wealth income by 2030 through Asian expansion. The bank reported a Q1 profit of S$1.44 billion, beating estimates despite Iran war risks.
Xurve View
Insights:
Xurve View
UNITED OVERSEAS BANK LTD plans to double its wealth income by 2030, targeting the sector as a primary growth engine. The target uses 2025 as a baseline and follows a 4% decline in first-quarter net profit to S$1.44 billion, which still exceeded analyst estimates. Investors are weighing the bank's aggressive wealth expansion against regional volatility and rising energy costs from Middle East tensions.
