United Overseas Bank Ord (UOVEF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. Welcome to the first results media briefing of this financial year. Today we have with us our Deputy Chairman and Group CEO, Mr. Wee Cheong, and our Group CFO, Mr. Leong Yung Chee. As usual, Mr. Wee will begin by giving a broad overview of how our franchise has performed and the operating landscape that we are all in. Mr. Leong will then go into more details on the financials and business performance from this quarter. After both presentations, we'll be taking questions from the media. I would now like to invite a CEO to get us started. Mr. Wee, please. Good morning. Thank you for joining us today. Happy to see all the usual faces. As all of you know, I don't have to say it, we are operating in a period of heightened global uncertainty. Energy prices are volatile. Supply chains remain under pressure. The inflation rate is have resurfaced. These are real challenges, and we are watching development closely. In times like this, customers look for stability. At UOB, we continue to work alongside our customers as they manage higher costs and volatility, and as they seize opportunities across the region. That is our priority. To be right by our customers. So we enter this period of uncertainty from a position of strength. Our balance sheet remains strong. Our capital and liquidity position are robust. And our reserve buffers give us the capacity to support customers as they navigate an uncertain As you know, our CET1 ratio first quarter is 15.3%. MPA coverage, 100%. GP versus performance loans is 1%. And this is consistent with how we have operated over 90 years. How we will continue seven times. Now, moving to our results. POV delivered a resilient performance in the first quarter. Net profit was $1.4 billion, moderating 4% year-on-year and up 2% q...