UOB (SGX:U11) News Today, Nov 6: Shares Fall on Unexpected Q3 Profit Tumble

Today, United Overseas Bank (UOB) experienced a substantial market upset. Announcing a 72% year-on-year drop in Q3 net profits, the bank’s shares on the Singapore Exchange (SGX: U11) fell as much as 4.6%. This unexpected decline was primarily due to significant provisions affecting its financial statements. Despite stable underlying business performance, concerns over asset quality have emerged, sending ripples through investor communities.