UOB posts RM2.2b pre-tax profit

KUALA LUMPUR: UOB Malaysia has posted a net pre-tax profit of RM2.2 billion for financial year 2024, up 15.9 per cent from RM1.9 billion in financial year 2023. Its total operating income rose to RM4.7 billion last year from RM4.6 billion in 2023. The increase was backed by steady growth across all income streams, including net interest income, Islamic banking, net foreign exchange gains and fees and commissions. Total expenses decreased by RM22 million while total allowances for expected credit losses declined by 52.1 per cent to RM159 million.