United Overseas Bank Limited · SGX:U11
United Overseas Bank — 1H 2024 Earnings Presentation
6 slides from United Overseas Bank's earnings presentation, August 2024
Slide 1: Strong performance with resilient balance sheet
Strong performance with resilient balance sheet CEO remarks Wee Ee Cheong, Deputy Chairman and Chief Executive Officer For the first half ended 30 June 2024 Private and Confidential
Slide 2: Stable results backed by diversified growth engines
Stable results backed by diversified growth engines Resilient core net profit1 Driven by diversified Continued to operate from engines position of strength 1H24: S$3.1 billion 2Q24 net interest income Common Equity Tier 1 -1% YoY S$2.4 billion 13.4% +2% QoQ -1% YoY 2Q24: S$1.5 billion NIM improved t
Slide 3: Group Retail Banking: Steady performance across key revenue drivers
Group Retail Banking: Steady performance across key revenue drivers Key drivers Wealth and cards UOB X Citi 2Q24 wealth management Rise in digital wealth Malaysia, Indonesia and income* sales on TMRW app Thailand: Integration +40% YoY completed Total AUM at S$182 billion +10% YoY Extensive ASEAN Vie
Slide 4: Group Wholesale Banking & Markets: Broad-based growth driven by connectivity
Group Wholesale Banking & Markets: Broad-based growth driven by connectivity Pick-up in loans Strong loan and trade- Strength in momentum related fees connectivity Loan drawdown 2Q24 loan and trade- Cross-border income Highest in four related fees ~25% of GWB income quarters +19% YoY Broad-based gro
Slide 5: Delivering stable and balanced growth
Delivering stable and balanced growth 2024 outlook • Low single-digit loan growth • Double-digit fee growth • Positive growth in total income • Core cost-to-income ratio at 41% to 42% on cost discipline One-time costs from Citigroup acquisition to substantially roll off • Credit costs at lower end o
Slide 6: Right By You
@ Right By You