United Overseas Bank Ord (UOVEF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to our third quarter 25 results media briefing. Today we have with us our Deputy Chairman and Group CEO, Mr. Wee Cheong, and our Group CFO, Mr. Leong Yong Chee. As usual, Mr. Wee will begin by giving a broad overview of how our franchise has done and the operating landscape we are operating in. And Mr. Leong will then go into more details on the financials and business performance. After both presentations, we will be taking questions from the media. So I'd like to invite our CEO to get us going. Mr. Wee, please. Good morning. Thank you again for joining us today. As all of you know, geopolitical developments are impacting business outlook, but we always see encouraging signs. ASEAN continues to attract investments. Amid evolving tariff changes, we continue to see healthy intra-regional trade flows. While a softening rate environment is putting pressure on asset use, we see healthy loan growth and fee income. Now, for the third quarter, we have reported a strong operating profit of $1.9 billion. And we are happy with our performance for the first nine months with healthy growth in loans, deposits, including CASA, Wealth AUM and Fees From this position of strength, we have proactively set aside additional pre-emptive general allowances. This substantially strengthens our provision coverage ratios, reinforcing resilience and flexibility to navigate headwinds and sustain long-term growth. And after building our coverage ratios, we retain a healthy capital position. By prioritizing balance sheet strength, we stand ready to act, support customers, and see strategic growth opportunities across the region. Now, for our shareholders, we remain committed to have 2 billion share buyback with almost one quarter of the programme completed as of September 2025. There is n...