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In Q2 2024, United Overseas Bank reported a 1% rise in net profit to $1.43B, driven by a 18% increase in net fee income.
United Overseas Bank (UOB) reported a 1% rise in Q2 2024 net profit to $1.43 billion, driven by a 18% increase in net fee income to $618 million.
The bank's core net profit, including integration costs from Citigroup's regional consumer units, fell 1% to $1.49 billion.
Despite lower net interest margins, UOB maintained its 2024 earnings guidance and declared an interim dividend of 88 cents per share, representing a 51% payout ratio.
The bank's asset quality remained stable, with a non-performing loans ratio improving to 1.5%.
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En el segundo trimestre de 2024, el United Overseas Bank informó de un aumento del 1% en el beneficio neto a $1,43B, impulsado por un aumento del 18% en los ingresos por honorarios netos.