United Overseas Bank Ltd. (UOVEY,UOVEF,U11.SI), a financial services bank, Thursday reported a decline in net profit for its third quarter from last year due to fall in interest income.
The Bank's net earnings came down 72 percent to S$443 million from $1.61 billion the last year.
For the three-month period, earnings per share were S$1.01, a fall from S$3.78 a year ago.
The company's operating profit decreased by 16 percent to S$1.86 billion from S$2.21 billion the prior year.
For the latest period, profit before tax fell 73 percent to $520 million from $1.92 billion the prior-year quarter.
For the reported quarter, net interest income was down by 8 percent to S$2.27 billion from last year of $2.46 billion.
In the third quarter, net fee income came down to S$615 million from $620 million earlier year.
On the Singapore Exchange, shares were trading 3.13 percent or 1.09 cents down at S$33.78.
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