Business Services Industry
United Overseas Bank posts 30% rise in net.
Australasian Business Intelligence, August, 2002
Aug 09, 2002 (The Asian Wall Street Journal
ABIX via COMTEX) -- United Overseas Bank recorded a net profit of $S591.1m for the six months ending 30 June 2002. The result represents an increase of 30 for the Singaporean-based banking institution. The share price of the bank decreased by $S0.10 to $S12.70 on 7 August 2002. Cost savings in 2003 should be around $S250m at the bank. A 46 increase in operating expenses to $S527.1m was recorded for the first half of 2002. The net interest margins of the bank rose to 2.31. The bank's net interest income increased by 85 to $S1.09bn. The bank's income from fees and commissions increased by 70 to $S247.4m.
Publication Date: 8 August 2002
UNITED OVERSEAS BANK LIMITED: DBS GROUP HOLDINGS LIMITED:...
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