Singapore's UOB revises down 2024 loan growth, Q4 profit beats forecasts

— AFP

SINGAPORE: Singapore's United Overseas Bank (UOB) on Thursday cut its 2024 loan growth projections to low single-digits from mid-single digits after posting a stronger-than-forecast 22% jump in fourth quarter net profit.

UOB maintained its 2024 guidance for double-digit fee growth while projecting total income to see positive growth, UOB CEO Wee Ee Cheong said in a briefing on the bank's earnings.

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