Singapore bank UOB's Q4 profit beats forecasts, unveils US$2.2bil capital return

People walk into the United Overseas Bank (UOB) building in the Raffles Place financial district in Singapore on August 10, 2023. (Photo by Roslan RAHMAN/ AFP)

SINGAPORE: Singapore's United Overseas Bank, or UOB, maintained its guidance for 2025 after posting on Wednesday a 9% rise in fourth-quarter net profit that beat expectations and announcing a S$3 billion ($2.24 billion) package to return surplus capital.

"Our long-term investments in regional platforms and capabilities are paying off, and we expect continued revenue growth this year," UOB CEO Wee Ee Cheong said in a statement.