UOB reports 8% higher 1Q earnings of S$1.05b on interest income growth

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SINGAPORE (May 3): UOB Group reported earnings of S$1.05 billion for the 1Q ended March, up 8% from a year ago on higher net interest income.  

Total income grew 8% to S$2.5 billion on-year from S$2.2 billion in 1Q18, led by growth in interest income for the quarter, which more than offset a decline in fee and commission income.

Net interest income rose 8% to S$1.6 billion based on a broad-based growth of 12%, which was partially offset by net interest margin (NIM) compression of five basis points to 1.79%... (Click here to read the full story)