In This Article:
United Overseas Bank (SGX:U11) Full Year 2024 Results
Key Financial Results
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Revenue: S$13.4b (up 2.7% from FY 2023).
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Net income: S$6.05b (up 8.0% from FY 2023).
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Profit margin: 45% (up from 43% in FY 2023). The increase in margin was primarily driven by higher revenue.
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EPS: S$3.56 (up from S$3.34 in FY 2023).
U11 Banking Performance Indicators
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Net interest margin (NIM): 2.03% (down from 2.09% in FY 2023).
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Cost-to-income ratio: 42.5% (up from 41.5% in FY 2023).
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Non-performing loans: 1.53% (up from 1.52% in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
United Overseas Bank Meets Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations.
The primary driver behind last 12 months revenue was the Group Wholesale Banking (GWB) segment contributing a total revenue of S$6.11b (46% of total revenue). The largest operating expense was General & Administrative costs, amounting to S$3.70b (51% of total expenses). Explore how U11's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Banks industry in Asia.
Performance of the market in Singapore.
The company's share price is broadly unchanged from a week ago.
Risk Analysis
You should always think about risks. Case in point, we've spotted 1 warning sign for United Overseas Bank you should be aware of.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.