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Search resuls for: "UOB"


4 mentions found


☆ DBS profit soars 32% to a quarterly record on rising interest rates
  + stars: | 2022-11-02 | by ( ) www.reuters.com   time to read: +1 min
SINGAPORE, Nov 3 (Reuters) - DBS Group (DBSM.SI) on Thursday reported a forecast-beating 32% jump in quarterly profit to a record high and forecast a bullish outlook, as higher interest rates boosted net interest margins at Southeast Asia's largest lender. Net profit at DBS came in at S$2.24 billion ($1.58 billion) in July-September, beating an average estimate of S$1.97 billion from four analysts, according to Refinitiv data. The bank's return on equity rose to a record 16.3% and net interest income surged 44%. Its net interest margin, a key profitability gauge, improved to 1.90% in the quarter from 1.43% a year earlier. Last week, local peer UOB Group (UOBH.SI) beat market estimates with a record quarterly net profit of S$1.4 billion after net interest income swelled and credit allowances declined.
☆ Bank Negara Malaysia set to hike for fourth time in a row on Nov. 3 - Reuters poll
  + stars: | 2022-11-01 | by ( Shaloo Shrivastava | ) www.reuters.com   time to read: +3 min
Bank Negara Malaysia (BNM) started raising rates in May even though inflation was within its target range of 2%-3%. It has since hiked rates by 75 basis points to keep inflation in check. All but two of 27 economists in the Oct. 25-31 poll predicted BNM would hike its overnight policy rate by 25 basis points to 2.75% from 2.50% at its Nov. 3 meeting. While 13 of 18 penciled in a 25 basis point hike in Q1, three said 50 basis points. The median forecast showed the overnight policy rate would remain at 3.00% until at least the end of next year.
☆ The markets have probably already priced in a recession — and a fairly significant one at that: UOB
  + stars: | 2022-10-14 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe markets have probably already priced in a recession — and a fairly significant one at that: UOBTony Raza of UOB Asset Management says one of the "depressing things" of investing in the market now is that "we don't really seem like we're at a point where things will level off at a bottom yet."
☆ The US dollar will find it hard to maintain its strength: UOB
  + stars: | 2019-12-13 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe US dollar will find it hard to maintain its strength: UOBAs risk appetite recovers and as the Chinese yuan and British pound recover, it will be "tougher" for the U.S. dollar to remain strong, says Heng Koon How of United Overseas Bank.
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