UOB Q1 Profit Drops 2%: What You Need to Know
$UOB(U11.SG$, a powerhouse in the financial industry, has just released its latest quarterly update, although the Q1 profits drop quarter-on-quarter, the remaining numbers are nothing short of impressive. Brace yourself for an exhilarating ride through their exceptional performance and remarkable growth!
Financial Highlights
In the first quarter of 2024 (1Q24), UOB Group hit a home run with a core net profit of S$1.6 billion, a 2% down as compared to last year but a jaw-dropping 5% increase from the previous quarter. This outstanding achievement was fueled by surging net fee income and record-breaking trading and investment gains.
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