Singapore's UOB braces for slowdown after flat Q1 profit growth

Lender raises loss allowances as it eyes ASEAN opportunities to trump US tariffs

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UOB's ratio of non-performing loans crept up to 1.6% in the first quarter of 2025. © Reuters

DYLAN LOH

SINGAPORE -- Singapore's United Overseas Bank on Wednesday reported flat net profit growth for the first quarter of the year as it warned of a near-term slowdown in global growth amid U.S. trade tariffs spurring macroeconomic uncertainties.

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