UOB Q1 Profit S$1.44bn, Loans +4%

UOB reported Q1 net profit of S$1.44 billion, a 4% YoY decline but matching Bloomberg’s S$1.4 billion estimate.
Net interest income fell 4% YoY to S$2.32 billion as lower benchmark rates compressed margins, with NIM narrowing to 1.82%.
Customer loan book grew 4% YoY, offsetting margin pressure while fee income dropped 8% to S$637 million amid cautious market sentiment.
Trading and investment income fell 13% YoY to S$405 million but surged 88% QoQ, and CET1 ratio improved to 15.3% from 15.1%.