Singapore bank UOB's Q4 net profit rises 9%, announces $2.2 billion package to return surplus capital

Reuters
02-19
Singapore bank UOB's Q4 net profit rises 9%, announces $2.2 billion package to return surplus capital

SINGAPORE, Feb 19 (Reuters) - Singapore's United Overseas Bank, or UOB UOBH.SI, reported on Wednesday a 9% rise in net profit in the fourth quarter from a year earlier on the back of higher net interest income supported by loan growth.

It also announced a S$3 billion ($2.24 billion) package to distribute surplus capital over the next three years, according to a stock exchange filing.

($1 = 1.3420 Singapore dollars)

(Reporting by Yantoultra Ngui; Editing by Chris Reese)

((Yantoultra.Ngui@thomsonreuters.com;))

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