UOB Group has announced a net profit of S$1.4b for the first quarter of 2026, marking a 2% increase from the previous quarter. However, this figure represents a 4% decline year on year, attributed to a softer operating environment compared to the robust performance in the same period last year.
The bank’s performance was bolstered by its Group Retail, Group Wholesale Banking, and Global Markets divisions, with notable contributions from current account savings account (CASA), wealth management, card billings, loan growth, and customer-related treasury income. Despite the pressure from a lower interest rate environment, UOB managed a healthy loan growth of 4%, which helped mitigate margin pressures.
Net fee income saw a 2% quarter-on-quarter increase to S$637m, driven by wealth and capital market activities. However, on a year-on-year basis, net fee income decreased by 8%, reflecting a more cautious market sentiment. Other non-interest income surged by 45% quarter on quarter to S$462m, benefiting from stronger customer treasury income and market volatility.
Credit costs remained stable at 26 basis points, with a non-performing loan ratio of 1.5%. UOB’s balance sheet continues to be robust, with a Common Equity Tier 1 ratio of 15.3%.
UOB’s CEO highlighted the group’s steady performance and strong asset quality, stating, “Whilst global uncertainty remains elevated, business activity held up across our key segments.” Looking forward, UOB aims to deepen relationships within its ASEAN customer base and strengthen ecosystem partnerships to support long-term growth.
