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Market View: UOB’s Q1 profit ended flat - Should investors worry about this?

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Manage episode 481151962 series 2467889
Content provided by SPH Radio and MONEY FM 89.3. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by SPH Radio and MONEY FM 89.3 or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

UOB announced a flat first-quarter net profit of S$1.49 billion, missing expectations as higher credit costs and market volatility weighed on performance.

Net interest income rose 2% to S$2.41 billion, though net interest margin slipped to 2.00%. Credit costs increased to 35 basis points from 25 bps in Q4, as the bank set aside pre-emptive provisions.

Meanwhile, the US and China are preparing for their first formal trade talks since former President Trump imposed sweeping 145% tariffs on most Chinese goods.

The People’s Bank of China cut its seven-day reverse repo rate to 1.4% and trimmed the reserve requirement ratio by 50 basis points, releasing an estimated 1 trillion yuan in long-term liquidity.

On Market View, Alexandra Parada speaks to Jeremy Tan, CEO of Tiger Fund Management, to discuss more about the latest market movements.

See omnystudio.com/listener for privacy information.

  continue reading

4518 episodes

Artwork
iconShare
 
Manage episode 481151962 series 2467889
Content provided by SPH Radio and MONEY FM 89.3. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by SPH Radio and MONEY FM 89.3 or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

UOB announced a flat first-quarter net profit of S$1.49 billion, missing expectations as higher credit costs and market volatility weighed on performance.

Net interest income rose 2% to S$2.41 billion, though net interest margin slipped to 2.00%. Credit costs increased to 35 basis points from 25 bps in Q4, as the bank set aside pre-emptive provisions.

Meanwhile, the US and China are preparing for their first formal trade talks since former President Trump imposed sweeping 145% tariffs on most Chinese goods.

The People’s Bank of China cut its seven-day reverse repo rate to 1.4% and trimmed the reserve requirement ratio by 50 basis points, releasing an estimated 1 trillion yuan in long-term liquidity.

On Market View, Alexandra Parada speaks to Jeremy Tan, CEO of Tiger Fund Management, to discuss more about the latest market movements.

See omnystudio.com/listener for privacy information.

  continue reading

4518 episodes

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