- UOB reported a net income of S$1.49 billion for the second quarter of 2024, surpassing estimates of S$1.47 billion.
- Including one-off costs, net income was S$1.43 billion.
- Net interest income was S$2.40 billion.
- Net fee income stood at S$618 million.
- Total income for the quarter was S$3.48 billion, beating the estimate of S$3.46 billion.
- Impairment charge for the quarter was recorded at S$232 million.
- Analyst recommendations include 9 buys, 8 holds, and 1 sell on UOB stock.
A look at UOB Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 4 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Analysis of Smartkarma Smart Scores for UOB reveals a promising long-term outlook for the company. With a strong focus on growth and dividends, UOB‘s overall outlook appears positive. The company scores well in momentum, indicating a favorable trend in its stock performance. Additionally, UOB demonstrates resilience in the face of market challenges. Although UOB‘s value score is moderate, its solid performance in other key areas bodes well for its future prospects.
United Overseas Bank Limited, a leading financial institution offering a wide array of services, stands out with its impressive Smartkarma Smart Scores. Providing a comprehensive range of financial solutions, including wealth management, investment banking, and insurance, UOB has secured strong ratings in growth and dividends. With a resilient business model and excellent momentum, UOB is positioned for sustained success in the long run, making it a promising prospect for investors seeking stability and growth in the financial sector.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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