United Overseas Bank’s third-quarter net profit rose 182% year on year to S$1.25 billion, or $975.72 million, from S$443 million, reflecting an 81% decline in provisions for credit and other losses to S$258 million from S$1.36 billion a year earlier. The result missed the latest Bloomberg consensus of about S$1.37 billion by roughly 9% and fell 15% from the previous quarter’s S$1.48 billion. UOB shares dropped 5.4% to S$38.27, their lowest since June 16, underperforming the Straits Times Index, which fell 0.9% in early trading. Net interest income increased 1% to S$2.28 billion, but net interest margin narrowed to 1.68% from 1.74% in the previous quarter as deposit costs rose. Net fee income climbed 19% to a record S$733 million, supported by wealth management, cards and loan-related activities, while wealth management fees reached S$258 million. Other non-interest income declined 29% to S$370 million as trading and investment income fell 33% to S$322 million amid less favorable market conditions. UOB’s non-performing loan ratio improved to 1.5% from 1.6%. The bank expects loan and fee income growth to continue into 2027, including mid-single-digit loan growth, net interest income above 2026 levels and mid- to high-single-digit fee-income growth, while operating costs are expected to rise by a mid- to high-single-digit percentage next year. The results precede third-quarter earnings from DBS on November 5 and OCBC on November 6.