4Q21 Results Flash Note
- UOB reported net profit was S$1.02b, down 3% qoq but in line with consensus estimates of S$998m.
- Loans grew 10.5% yoy. NIM improved 1bp qoq to 1.56%.
- Fees were flat qoq at S$589m. Growth from credit cards and loans related fees were offset by seasonal decline in wealth management.
- Trading and investment income dropped 31% qoq due to lower customer flows and seasonally weaker transaction volume.
- Total provisions dropped 31% qoq due to write-back in general provisions of S$76m.
- The board recommended final dividend of 60 S cents.