UOB Q1 Net Profit Declines

(RTTNews) - UOB Group reported first quarter net profit, including one-off expenses, of S$1.49 billion, a decline of 2% from a year ago. Core net profit was S$1.57 billion, down 1%.

Total income was S$3.52 billion, flat with a year ago. Net interest income was S$2.36 billion, down 2% from last year.

"Our Citigroup integration is progressing well. We recently successfully migrated customers in Thailand to our UOB platform following the smooth transition in Malaysia and Indonesia last year. Next year, we will complete the integration in Vietnam," Wee Ee Cheong, Deputy Chairman and CEO, UOB, stated.

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