*DJ United Overseas Bank 1Q Net S$518M; Expected S$511M
(MORE TO FOLLOW) Dow Jones Newswires
May 08, 2007 00:40 ET (04:40 GMT)
Copyright (c) 2007 Dow Jones & Company, Inc.
DJ United Overseas Bank 1Q Net S$518M; Expected S$511M
SINGAPORE (Dow Jones)--United Overseas Bank Ltd. (U11.SG) on Tuesday reported a 17.9% increase in its first-quarter net profit due to higher net interest and non-interest income.
Singapore's second-largest banking group by assets posted a net profit of S$518 million for the three months ended March 31, up from S$439 million a year earlier.
The figure was slightly higher than the average estimate of S$511 million by four analysts polled by Dow Jones Newswires.
First-quarter net interest income rose 16.6% to S$762 million from S$653 million.
Non-interest income was up 23.4% to S$432 million from S$350 million, according a company statement.
-By Patricia Kowsmann, Dow Jones Newswires; 65 6415 4157; patricia.kowsmann@dowjones.com
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