Half Year 2021 United Overseas Bank Ltd Media Briefing Transcript
Good morning, and thank you for joining us. We hope everyone is staying safe and healthy. Today, I would like to share 4 key messages to all of you. First key message, we have achieved strong first half this year backed by economic recovery, strong customer franchise, diversified growth engines and resilient portfolio.
In the second quarter, we continued to build on our strong business momentum. First half profit rose 29% year-on-year to SGD 2 billion, with healthy contributions across our core businesses. Loans grew 6%, led by wholesale banking, which had a record quarter. This was driven by rising trade and investment flows and capital market activities as we provide targeted sector solutions for our clients.
Fee income rose 28% on the back of strong wealth management, loan-related and fund management performance. If I break it down, the wealth management is up 32% year-on-year; loan-related 33% year-on-year; and fund management up 40% year-on-year. This was achieved despite uneven recovery across economies. Our
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
