United Overseas Bank Ord (UOVEF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Mr. Wee will first give a broad overview of how our franchise has performed and the operating landscape we are in. Mr. Leong will then go into more details on the financials and business performances from this quarter. After both presentations, we will be taking questions from the media. For the media who are joining us online, please use the raise hand function if you have a question. I would now like to invite CEO to get us started. Mr. Wee, please. Good morning. Thank you for joining us today. Since we last spoke, the global outlook has changed significantly. The world order has been disrupted by US terrorism. While it is too early to quantify the exact impact, we expect growth to slow in the near term. Amid uncertainties, the long-term fundamentals of ASEAN remain attractive. The region's competitive advantage in manufacturing and commodities will help ensure a relevant role as global supply chains rewind. Quick flows within ASEAN and between ASEAN and the rest of the world will continue to grow as countries seek new ways to prosper. While the road ahead may not be smooth, it will be We have strong balance sheets, capital and liquidity, a good reserve buffer to navigate these uncertain times. Our diversified earnings base continues to provide stability across economic and market cycles. In the first quarter of this year, EOB delivered a solid performance. Net profit was stable year on year at $1.5 billion. Growth was broad-based, supported by resilient income from lending, record fees, and higher trading and investment income. Our asset quality is healthy. With strong earnings this quarter, we are taking a conservative approach to increase our reserves. Given the uncertainties, we have been reshaping our business franchise with diversified client segments and pro...