The Singapore-based bank's HNW assets under management climbed to S$204 billion ($159 billion). It was the third of the “big three” domestic banks in the Asia-city state to report its figures.

United Overseas Bank reported a net profit of S$1.5 billion ($1.17 billion) for the second quarter of 2026, rising 10 per cent from a year earlier. Record wealth management fees offset margin pressure from lower interest rates. Net profit for the first half of the year rose 3 per cent to S$3 billion.

Net fee income rose 5 per cent to S$665 million.

Wealth management income for the first half rose 16 per cent from a year earlier, supported by growth in assets under management and higher conversion of client deposits into invested assets. Growth was strongest in the bank's ASEAN-4 markets of Malaysia, Indonesia, Thailand and Vietnam. Wealth management income rose by 30 per cent on a year earlier, led by Malaysia and Thailand.

High net worth assets under management reached S$204 billion, a gain of 7 per cent from a year ago, on continued net new money inflows.

UOB's results follow those of domestic rivals DBS Group and OCBC, both of which also reported wealth management as the main counterweight to interest rate pressure this earnings season.

DBS logged a record second-quarter net profit of S$3.08 billion, rising 9 per cent, and with wealth assets going above S$500 billion for the first time.

OCBC's second-quarter net profit rose 22 per cent from a year earlier to S$2.22 billion. Net fee income rose 28 per cent to S$739 million, helped by record wealth management fees of S$470 million.