UOB to report a 3Q15 net profit decrease of 4% YoY

Analysts expect a profit of S$836m.

United Overseas Bank (UOB) is scheduled to release its 3Q15 results on 30 Oct. RHB expects the bank to report a net profit of c.SGD836m, up 10% QoQ but down 4% YoY.

"The sequential improvement in net profit is likely to come from: i) a 2% QoQ rise in operating income, ii) a moderate 5% QoQ rise in impairment charges, iii) tight control of opex, and iv) the normalisation of the effective tax rate after an above-average tax charge of 18.5% in 2Q15."