Singapore's UOB Third-Quarter Net Profit Decline
Singapore's United Overseas Bank (UOB) reported a significant 72% decrease in net profit for the third quarter of 2025, falling to S$443 million from S$1.61 billion a year earlier. The decline was primarily attributed to a surge in allowance for credit and other losses. Despite missing forecasts, UOB took proactive measures to strengthen provision coverage amidst macroeconomic uncertainties and sector-specific challenges.