216 views
Logo from UOB Kay Hian.

UOB Kay Hian profit up 32.7% to $69.6m in H1

Its revenue was up 22.4$ to $287.8m.

UOB Kay Hian reported a $69.6m profit in the first half of the year, registering a 32.7% increase from $52.4m in the same period last year.

In a disclosure, UOB said its revenue also rose by around 22.4% year-on-year (YoY) to $287.8m.

Meanwhile, its commission and trading income declined by 14.8% to $139.8m because of the lower market volume across the regional and the US market, adding that market volumes were also down by 16% to 27%.

ALSO READ: UOB partners with Jewl Chaingi for cards campaign

“While inflation growth looks to have peaked, current interest rates are expected to remain elevated moving ahead. With political tensions between China and the US continuing and global growth weak, the Group expects overall trading volumes to remain muted,” it said.

The company’s interest income surged by 137.2% to $132m due to the high-interest environment, whilst its operating income slightly rose to $16m from $15.4m.

Its commission expenses were down 11.8% to $37.3m, whilst its personnel expenses slightly increased to $78.6m. Its other operation expenses were at $18.3m.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

ION Orchard marks 15 years as a premier retail destination
The mall is proactive in conducting surveys to identify trends and optimise its tenant mix.
Retail
ION Orchard leads charge in sustainable takeaway practices
 Shoppers will enjoy discounts when they opt for a reusable mug or food container from Muuse.
Lendela on why banks need fintechs to buoy loan growth
Loan demand has doubled in Singapore, and fintechs can help onboard quality clients.