UOB posts 66% profit jump and 30% ASEAN wealth income rise in H1 2026

UOB Kay Hian, the securities brokerage arm of United Overseas Bank, reported a 66% increase in first‑half FY2026 net profit to S$164.7 million, driven by a 41.8% rise in revenue to S$481.1 million and a 51.6% jump in commission and trading income. Expenses also grew, with commission costs up 33.5% and staff costs up 40.6%. The firm did not declare an interim dividend and noted that market conditions remain supportive but volatile amid US rate outlook and geopolitical developments.

Across the group, UOB said wealth management income in its ASEAN‑4 markets (Malaysia, Indonesia, Thailand and Vietnam) rose 30% year‑on‑year in the first half of 2026, and high‑net‑worth assets under management reached S$204 billion. Group net profit for the period increased 3% to S$2.92 billion, with a 10% rise in Q2 profit to about S$1.5 billion. The bank also highlighted strong regional trade activity, with trade loans up 33% year‑on‑year and cross‑border income accounting for 28% of wholesale banking revenue.