UOB's third-quarter net profit fell marginally, due to a higher allowance for credit losses.
The quarter's profit amounted to S$1.38 billion (US$1.01 billion), down 1.0% on year;
Total income during the quarter grew 9% to S$3.46 billion, with net interest income coming in at S$2.43 billion compared with S$2.23 billion a year earlier;
Income from fees and commissions rose 14% to S$591 million, mainly due to loan-related and credit card fees;
During the quarter, allowance for credit and other losses was S$235.0 million as against S$104.0 million a year earlier.
