United Overseas Bank, the smallest of Singapore’s three banking groups, posted an almost 36% rise in third-quarter net profit, helped by strong fee and commission income and trading gains.���
UOB earned $707 million in the three months ended in September, compared to $522 million a year earlier. The results beat the $652 million average estimate of five analysts polled by Thomson Reuters.
The Singapore bank said net interest income in the third quarter grew 6.1% to $971 million from a year earlier even though interest rate margins were weak. Trading and investment income tripled to $173 million.
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