United Overseas Bank Ltd. reported net income of S$1.25 billion for the three months ended Sept. 30, nearly three times the amount recorded a year earlier. The result was below the average analyst estimate of S$1.37 billion.
Lower trading and investment income dampened gains from lending and fees. The year-earlier comparison was affected by UOB setting aside its largest-ever provision for overseas commercial real estate risks, the bank said in a statement.
Sources: Bloomberg Markets.