Advertisement
UK markets close in 1 hour 25 minutes

  • FTSE 100

    8,421.83
    -16.82 (-0.20%)
     

  • FTSE 250

    20,735.51
    -87.33 (-0.42%)
     

  • AIM

    793.63
    +1.13 (+0.14%)
     

  • GBP/EUR

    1.1676
    +0.0021 (+0.18%)
     

  • GBP/USD

    1.2680
    +0.0009 (+0.07%)
     

  • Bitcoin GBP

    52,101.15
    -258.04 (-0.49%)
     

  • CMC Crypto 200

    1,349.42
    -24.42 (-1.78%)
     

  • S&P 500

    5,299.27
    +2.17 (+0.04%)
     

  • DOW

    39,930.40
    +61.02 (+0.15%)
     

  • CRUDE OIL

    79.42
    +0.19 (+0.24%)
     

  • GOLD FUTURES

    2,402.30
    +16.80 (+0.70%)
     

  • NIKKEI 225

    38,787.38
    -132.88 (-0.34%)
     

  • HANG SENG

    19,553.61
    +177.08 (+0.91%)
     

  • DAX

    18,695.95
    -42.86 (-0.23%)
     

  • CAC 40

    8,165.41
    -23.08 (-0.28%)
     
Property:

9 houses with great-looking gardens

Check out these homes if inspiring outside space tops your property wish list

Singapore bank UOB's first-quarter profit falls to two-year low, raises impairment charges

Reuters
·1-min read
A woman passes the United Overseas Bank branch in Singapore

SINGAPORE (Reuters) - Singapore's United Overseas Bank <UOBH.SI> reported a smaller-than-expected 19% drop in first-quarter net profit on Wednesday, but it increased impairment charges to reflect worsening economic conditions due to the coronavirus outbreak.

UOB said its impairment charges rose to S$286 million in the three months to March 31 from S$93 million a year earlier and it booked an additional regulatory loss allowance reserve of S$260 million, up five times from a year ago.

Net profit at Singapore's third-largest listed lender dropped to S$855 million ($604.1 million) in the latest quarter from S$1.05 billion a year earlier, compared with an average estimate of S$739.3 million from three analysts, according to Refinitiv data. The profit level was the lowest in just over 2 years, according to Refinitiv data.

(Reporting by Anshuman Daga; Editing by Kim Coghill)