UOB Group posted a core net profit of S$1.64 billion in the third quarter of 2024, up 11% year on year, driven by new record highs in net fee income and trading and investment income.

Net profit for the third quarter was S$1.61 billion up from S$1.38 billion in the prior year.

Net interest income for the third quarter increased 1% year-over-year to S$2.46 billion, led by healthy loan growth of 5%. Net fee income grew 7% year-over-year to S$630 million, driven by growth in wealth management fees.Other non-interest income rose 70% to S$744 million from the prior year, boosted by record-high trading and investment income, as customer-related treasury income grew strongly.

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