UOB Malaysia registers RM1.22bil profit in FY19

United Overseas Bank (M) Bhd CEO Wong Kim Choong

KUALA LUMPUR: The United Overseas Bank (M) Bhd (UOB Malaysia) registered a net profit of RM1.22 billion for the financial year 2019 ended Dec 31, 2019 (FY2019).

In a statement today, the bank attributed its performance to higher net interest and non-interest income, which was partially offset by an increase in operating expenses and allowances for expected credit losses.

Its total operating income increased 3.2 per cent to RM3.10 billion in 2019, contributed by higher interest income from loans and debt instruments at fair value through other comprehensive incomes.

"The growth in net interest income was partially offset by higher interest expense from net placements of financial institutions.