UOB Group Financial Updates Q1 2023 Earnings

UOB reported record core net profit of $1.6 billion for Q1 2023, with return on equity of 14.9% and strong capital ratios. The bank demonstrated resilient asset quality with NPL ratio at 1.6%, supported by double-digit fee income growth and record treasury and investment income. Liquidity and capital positions strengthened with CET1 ratio increasing 70 basis points to 14.0%.