financial report

Net fee income also jumped 19% to a record $733m.   UOB Group’s net profit nearly tripled to $1.25b in the third quarter (Q3) of 2026, from $443m a year ago, as total allowance normalised from elevated levels that had included pre-emptive provisioning and higher specific allowance.   The figure, however, is 15% lower than the $1.48b recorded in Q2, which UOB attributed to the absence of asset divestment gains.   Net interest income rose 1% year-on-year (YoY) to $2.28b, despite a 14-basis-point decline in net interest margin to 1.68% in a lower interest rate environment.   Fee income rose 19% to a record $733m from $615m, driven by strong growth in wealth, cards, and loan-related activities.Other non-interest income fell 29% to $370m on lower trading and investment income.   Meanwhile, total allowance fell 81% YoY to $258m from $1.36b, bringing total credit costs on loans down to 24 basis points from 134 basis points.   Expenses rose 2% to $1.57b as the cost-to-income ratio edged up to 46.4%.   The non-performing loan ratio improved to 1.5%, whilst the Common Equity Tier 1 ratio was unchanged at 14.6%.