UOB First Quarter Net Profit Falls 4% to S$1.44 Billion
UOB reported a 4% fall in first-quarter profit to S$1.44 billion due to lower rates. The results beat expectations despite declines across all income segments.
UNITED OVERSEAS BANK LTD reported a 4% decline in first-quarter net profit to S$1.44 billion ($1.14 billion) as interest rate headwinds pressured margins. The result exceeded the S$1.38 billion mean estimate from three LSEG analysts despite broad declines across all income segments. The bank maintained its previous guidance for its 2026 outlook.
### Margin Compression and Fee Moderation Net interest income fell 4% year-on-year, driven by a drop in benchmark rates that squeezed the lender's profitability. Net interest margin, a critical metric for bank earnings, contracted to 1.82% from 2.00% in the same period a year earlier.
