UOB Posts Flat Profit, Pauses 2025 Guidance
Singapore-based UOB recorded stable profits in the first quarter but avoided providing guidance on earnings for the rest of 2025 due to macroeconomic uncertainties.
UOB registered a net profit of nearly S$1.5 billion ($1.2 billion) in the first quarter of 2025, according to the bank’s financial results, which was unchanged compared to the same period last year.
Net interest income increased 2 percent to S$2.4 billion and net fee income rose 20 percent to a record S$694 million while other non-interest income decreased 5 percent to S$554 million. In total, net income was up 4 percent to S$3.7 billion. Expenses inched 1 percent lower to around S$1.6 billion. S$290 million in allowance for credit and other losses was also recorded, compared to S$163 million last year.
Guidance Halted Due to Tariffs
According to the bank’s CEO presentation, guidance on 2025 earnings has been paused for the time being until the situation stabilizes.
«Macroeconomic uncertainties from the US tariffs have triggered significant market volatility and disruptions in global trade. We anticipate a slowdown in global growth in the near term and remain vigilant amid the uncertain global outlook,» commented UOB deputy chairman and CEO Wee Ee Cheong.
«We believe in ASEAN’s resilience and long-term potential. The region’s competitive edge in manufacturing and commodities will ensure its relevance as global supply chains reconfigure. We expect flows within ASEAN and between ASEAN and the rest of the world to continue growing as countries seek new ways to prosper.»
