UOB shares drop after third-quarter earnings miss forecasts

Shares of United Overseas Bank (UOB) fell more than 5 percent at the market open on Wednesday after the lender reported third-quarter earnings that missed analyst expectations. While the bank reported a 182.2 percent year-on-year increase in net profit to S$1.25 billion for the quarter ended September 30, 2026, the figure fell short of the S$1.38 billion consensus forecast from analysts polled by Bloomberg.

The profit increase follows a low base from the previous year, when the lender set aside S$1.36 billion in allowances for credit and other losses. Despite record net fee income from wealth, cards, and loan-related businesses, net interest income remained largely flat as margins faced pressure. Specifically, the net interest margin narrowed to 1.68 percent from 1.82 percent in the prior year.