KUALA LUMPUR, April 24 — United Overseas Bank (M) Bhd recorded a four per cent increase in profit after tax to RM1.14 billion for the financial year ended Dec 31, 2017.
In a statement today, the bank said total operating income rose by six per cent to RM3 billion.
Net interest income improved by 5.4 per cent to RM2.02 billion on the back of steady loan growth and higher interest income from available-for-sale securities.
As for non-interest income, it saw a growth of 5.2 per cent to RM0.9 billion, supported by higher fee income, as well as trading and investment income.
Chief Executive Officer, Wong Kim Choong, said the bank achieved the better results through a sharpened focus on its strategic priorities.
“These include strengthening digital capabilities and technology systems to deliver excellent customer service and help clients achieve operational efficiencies.
“As our 2017 results show, we forged ahead to achieve our strategic priorities and continued to invest for the future,” he said, adding, the bank innovated and kept pace with advances in technology to make banking smarter, simpler, safer and faster for customers.
On the bank’s priorities for 2018, Wong said it would continue to focus on developing and strengthening digital capabilities to meet customers’ needs. — Bernama
