UOB Q1 Profit $1.4B SGD Hit by Low Rates

Prachachat•Economy•16d ago

Reader Briefing

UOB reported a first-quarter net profit of SGD 1.4 billion, despite facing challenges from low interest rates and global economic volatility.

•UOB Group announced a first-quarter net profit of SGD 1.4 billion for 1Q/2026.
•The profit increased by 2% from the previous quarter but decreased by 4% year-on-year.
•The bank attributed performance to strong contributions from retail, large corporate, and Global Markets businesses.

Overview

•In the first quarter of 2026, UOB Group reported a net profit of SGD 1.4 billion.
•The net profit for UOB's first quarter of 2026 was SGD 1.4 billion, an increase of 2% from the prior quarter.
•Compared to the same period last year, UOB's first-quarter net profit of 2026 decreased by 4%.
•Net interest income in the first quarter of 2026 decreased from the previous year due to sustained pressure on interest rate margins from a low-interest rate environment.
•Loan growth of 4% in the first quarter of 2026 helped mitigate the impact of lower net interest income.
•Fee income in the first quarter of 2026 increased by 2% from the previous quarter, reaching SGD 637 million.
•Other non-interest income in the first quarter of 2026 increased by 45% from the previous quarter to SGD 462 million.
•Wee Ee Cheong, Deputy Chairman and CEO of UOB, stated that UOB will focus on strengthening relationships with its growing ASEAN customer base and supporting clients for sustainable growth.

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Key Quotes

Wee Ee Cheong

"“Looking ahead, UOB will focus on strengthening relationships with our growing customer base in ASEAN, fostering collaborations with ecosystem partners, and supporting clients in seizing opportunities for sustainable long-term growth.”"

“เมื่อมองไปข้างหน้า ยูโอบีจะมุ่งเน้นการกระชับความสัมพันธ์กับฐานลูกค้าในภูมิภาคอาเซียนที่ขยายตัวมากขึ้น เสริมสร้างความร่วมมือกับพันธมิตรในระบบนิเวศธุรกิจ และสนับสนุนลูกค้าในการคว้าโอกาสเพื่อการเติบโตอย่างยั่งยืนในระยะยาว”

Key Entities

Organization

UOBℹ️

A banking group that reported its first-quarter financial results.

Person

Wee Ee Cheong(นายวี อี เชียง)

Deputy Chairman and CEO of UOB, who commented on the bank's performance and future strategy.