UOB Reported 26% Growth In Net Profit
$UOB(U11.SG$'s FY23 earnings surpassed expectations, propelled by impressive net interest income and reduced provisions for bad loans. The bank's proactive measures to streamline fixed deposit rates have contributed to its non-interest income growth, with fees rising by 17% YoY in 4Q23. The integration of the Citi franchise has paved the way for synergies, promising additional growth opportunities for UOB.
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101513442 : Financial reports performed well, and earnings exceeded expectations, but the stock price dropped by more than 7%. Is this really difficult to understand?
102356143 : Yes difficult to understand the 7% drop. And Wee Ee Chong CEO buys 100,000 at 28.495???
Swee Ling 102356143: Too many people selling.
WealthCompassOP : I think in general is due to the interest rate drop sentiment, the banks might not be able to repeat the 2023 growth this year