0807 GMT - United Overseas Bank is forecast to post 4Q core net profit of S$1.44 billion, down 4% on year and 12% on quarter, CGS International analysts write in a note. The Singapore bank's net interest margin may have slipped around 2 bps on quarter as asset yields got repriced on lower interest rates, they say. There could also be softer treasury income on quarter, normalizing from a peak in 3Q, the analysts add. However, CGS says UOB's net interest income could hold steady due to a pickup in loan growth that was broad-based across the retail and wholesale segments. CGS has an add rating and target price of S$39.50 on UOB. Shares are 1.05% lower at S$36.58. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
January 15, 2025 03:07 ET (08:07 GMT)
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