UOB Q2 profit climbs 10% to S$1.48 billion, edging past estimates
[SINGAPORE] UOB’s net profit for its second quarter rose 10 per cent as net fee income rose on record wealth management fees, it said on Friday (Aug 7).
Net profit for the three months ended June 30, 2026 stood at S$1.48 billion, compared with S$1.34 billion from the year-ago period.
The earnings slightly beat the S$1.45 billion consensus forecast in a Bloomberg survey of five analysts.
The lender declared a dividend of S$0.88 per share for the period. This is compared with the S$1.10 per share paid out in the year-ago period, which comprised an interim ordinary dividend of 85 cents and a special dividend of 25 cents.
Net interest income for the quarter fell 2 per cent to S$2.3 billion, reflecting low net interest margins in the prevailing rate environment.
Net interest margin was down 17 basis points (bps) to 1.74 per cent for the quarter, from 1.91 per cent in the previous corresponding period.
Net fee income increased 5 per cent to S$665 million, supported by strong growth in wealth and fund management activities, while other non-interest income rose 28 per cent to S$632 million, benefiting from non-recurring gains from asset divestments.
The bank’s non-performing loans (NPL) ratio was 1.6 per cent, unchanged from the same-period a year ago.
The bank cut its fee income guidance for 2026 to a low single-digit growth, compared with the high single-digit fee growth it guided for during its first quarter results.
Ahead of the results, shares of UOB closed 1.2 per cent up at S$43.58 on Thursday.
