UOB has reported full year net income of
S$2.7bn, up 41.8% from the previous fiscal.
The group generated just over S$1bn from its
retail banking business, down 2% compared the previous fiscal.
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Net interest income fell 3.9% in the twelve
months to 31 December to S$3.53bn, while fee and commission income
rose 19.1% to S$1.16bn.
The bank’s net interest margin declined from
2.36% at year-end 2009 to 2.09% at end-2010.
The bank’s non performing loans (NPL) ratio
improved from 2.2% at end-2009 to 1.8% at the end of last year.
NPL’s amounted to S$2.15bn at the end of 2010,
down by 4.6% from a year ago.
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Regional metrics for fiscal 2010
included:
- Pre-tax profit at the bank’s Singapore business rose by 43.7%
to S$2.29bn; - Customer loans in Singapore rose 12.3% to S$ 73.73bn;
- In Malaysia, pre-tax income was up 42.8% to RM937m
($306.86m). - Customer loans in Malaysia increased by 24.4% to RM35.9bn.
- In Thailand, pre-tax profits rose by 12.1% to THB87m
($2.84m) - Customer deposits in Thailand increased by 15.2% to
THB158.4bn.
Wee Ee Cheong, deputy chairman and chief
executive of UOB, said: “We are confident of delivering robust
growth this year. Our strong balance sheet, extensive distribution
network and customer franchise position us well to tap the growing
consumer wealth and rising intra-regional needs of customers in
