SINGAPORE — Singapore’s United Overseas Bank on Wednesday reported flat net profit growth for the first quarter of the year as it warned of a near-term slowdown in global growth amid U.S. trade tariffs spurring macroeconomic uncertainties.
UOB, one of the biggest lenders by assets in Southeast Asia, logged a net profit of 1.49 billion Singapore dollars ($1.15 billion) for the January-March quarter, almost unchanged from the same period last year and just missing the average earnings estimate of about SG$1.5 billion in a poll of analysts conducted by financial market data provider LSEG.
