United Overseas Bank Is Now Cheaper, But More Promising [Seeking Alpha]
UNITED OVRSEAS BK S/ADR (UOVEY)
NASDAQ:AMEX Investor Relations:
uobgroup.com/investor/index.html
Company Research
Source: Seeking Alpha
For the 5.9% dividend yield, the stock is affordable. Singapore-based United Overseas Bank Limited ( OTCPK:UOVEF ), or UOB, reported stellar results for financial 2023. Yes, net interest margin has apparently hit the ceiling but it is an industry-wide phenomenon which was widely anticipated. Fortunately, other sources of revenue picked up all at once. The economic prognosis for the region is generally optimistic, despite varying expectations on interest rate movements this year. Come what may, at the current price and dividend levels UOB stands as a fair buy. Financial update: FY2023 UOB Group continues to deliver. For the year ended 31 December 2023 , core net profit (excluding Citigroup integration costs) reached a record high of S$6.1b, up a strong 26% year-on-year. The two components of profit - interest income and non-interest income - both grew, the former by 16% to S$9.7b and the latter by 32% to S$4.2b. Net interest margin ('NIM') rose from 1.86% in 2022 to 2.02% by t
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News
- "Artful-noon" dining experiences await as UOB launches 43rd UOB Painting of the Year competitionPR Newswire
- DBS quarterly results trounce forecasts, another record year expected [CNBC]CNBC
- DBS CEO Gupta Sees Another Record Year After Earnings Beat [Yahoo! Finance Canada]Yahoo! Finance Canada
- DBS Profit Beats Estimates on Higher Lending, Wealth Fees Growth [BNN Bloomberg (Canada)]BNN Bloomberg
- Why You Might Be Interested In United Overseas Insurance Limited (SGX:U13) For Its Upcoming Dividend [Yahoo! Finance]Yahoo! Finance