Singapore UOB earnings Q4 falls

by Dramelin 4:30 PM 0 comments

Singapore`s United Overseas Bank (UOB) reported on Friday its earnings for the fourth quarter slipped 6.2 percent on-year to 739 million Singapore dollars ($521.75 million). Full-year non-interest income slipped 1.6 percent to S$3.07 billion, with trading and investment income falling 8.1 percent on lower earnings from the sale of investment securities, offset by higher trading income. UOB proposed a final dividend of 35 Singapore cents a share, bringing the total dividend payout for the year to 70 Singapore cents, down from 90 Singapore cents in 2015. But fee and commission income rose 10.6 percent to S$531 million on higher credit card and wealth management fees. Like its two Singapore peers, OCBC and DBS, UOB reported a hit from its oil and gas industry exposure.