Finance
UOB Halts 2025 Guidance on Uncertainty; Profit Growth Stalls
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United Overseas Bank Ltd. withheld its 2025 guidance amid economic uncertainties as the Singapore lender delivered first-quarter profit that was marked by a rise in provisions.
Net income was unchanged at S$1.49 billion ($1.2 billion) for the three-month period ended March 31 compared to a year ago, the lender said in a statement on Wednesday. The city-state’s third-largest bank, that usually gives an outlook for the year ahead, will resume management guidance “when situation stabilizes,” Chief Executive Officer Wee Ee Cheong said.