UOB Bank in Singapore anticipates favorable increase in NIM following Federal Reserve rate hike
Singapore’s United Overseas Bank expects a boost in interest income for the next quarter following the U.S. Federal Reserve’s recent rate hike. In the second quarter, UOB saw a 35% increase in core net profit, totaling 1.5 billion Singapore dollars ($1.13 billion). Its net interest income also grew by 31% compared to last year, thanks …