NRA Capital Pte Ltd

Written by: Lynn Look

Monday 3 Aug 2015

UOB - Interim results

Results a shade below expectations

UOB reported a slight decline in net earnings of S$1.56bn in 1H15. The results were a shade below our full year forecast due to its higher provisionings while its tax expense normalized. Pretax earnings were flat at half-time. We have cut our FY15-17 profit forecasts by between 2-4%.

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