UNITED Overseas Bank (UOB) reported yesterday a 15.1% rise in 2002 net profit, becoming Singapore’s most profitable bank after the acquisition of rival Overseas Union Bank (OUB) boosted its loans portfolio.
But UOB’s earnings were surprisingly weak despite the first full-year contribution from OUB, which it purchased two years ago. Its results for 2001 had included only three months of contributions from OUB.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
