After posting strong performance in 2024, Singapore-listed United Overseas Bank profit and income fell in 2025, despite a sharp rise in wealth management income.

United Overseas Bank net profit fell by 23 per cent in 2025 on 2024 levels to S$4.7 billion ($3.7 billion). This was largely due to the pre-emptive general allowances that the group set aside in the third quarter of 2025 to strengthen provision coverage amid growing macroeconomic uncertainties.

Operating profit also fell, if less sharply, by 4 per cent to S$7.7 billion for 2025, caused by strong fee momentum across its wholesale banking and retail banking businesses, the bank said in a statement yesterday.

Investors took shares down by more than 4 per cent yesterday at the close of Singapore trade. Since the start of 2026, shares in one of the three main domestic Singapore banks have risen 5.5 per cent. DBS Group reported its 2025 results here. (OCBC is scheduled to report its figures today.)

UOB said total income was S$13.8 billion, a drop of 3 per cent, as lower net interest income more than offset higher fee income. Net fee income grew by 7 per cent to a record high of S$2.6 billion, driven by a double-digit growth in wealth management and loan-related fees. Wealth management income rose by 14 per cent year-on-year, underpinned by clients’ conversion of deposits into invested assets under management. The group saw positive net new money inflows, bringing high net worth AuM to S$201 billion, a 6 per cent increase from the year before.

The bank said its board recommends the payment of a final dividend of 71 cents per ordinary share. Together with the interim dividend of 85 cents per ordinary share, the total dividend for 2025 will be S$1.56 per ordinary share – a payout ratio of about 50 per cent. In addition to the regular dividends, the group returned surplus capital to shareholders through a special dividend of 50 cents per ordinary share, which was paid over two tranches during 2025.

UOB is positive for this year. “ASEAN’s growth trajectory remains intact, powered by structural trends, including digitalisation, infrastructure investments and deepening regional integration,” Wee Ee Cheong (main picture), UOB’s deputy chairman and chief executive officer, said. “In this environment, we are seeing steady momentum across our business lines, driven by our regional network and deepening customer relationships across ASEAN.”

“We will continue to strengthen regional connectivity, enhance wealth platforms and scale our digital capabilities to deliver more value for customers,” he added.