Abstract of UOB’s 2Q24 outcomes
UOB reported its outcomes and dividends for the second quarter of 2024 (2Q24). UOB 2Q24 internet revenue was marginally larger by 0.8% year-on-year, however down 4.0% from 1Q24’s stage. Whole earnings fell 1% in 2Q24 from 1Q24, dragged down by the unstable buying and selling earnings. This offset positive factors in price earnings progress (+7%) and internet curiosity earnings (+2%). Interim dividend has been raised to 88 cents a share (1H23: 85 cents). The payout ratio in 1H24 was larger at 51%. Supply: UOB What’s constructive about this set of outcomes are an growth in internet curiosity margin, pickup in clients’ loans demand, and stronger price earnings. Web curiosity margin elevated 0.03% level to 2.05% (1Q24: 2.02%), reversing the downward pattern within the final 5 quarters. That is additionally helped by the next CASA ratio of 51.5% (Mar 24: 50.6%). Loans grew at a quicker tempo of 1.5%…
