United Overseas Bank Ltd
U11: XSES (SGP)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
SGD 94.00 | Rkmsd | Jtkcmzkk |
United Overseas Bank Earnings: Cost Control at Singapore’s UOB Offsets NIM Decline
We maintain our fair value estimate of SGD 38 on Singapore’s United Overseas Bank, or UOB, following its first-quarter results. Our estimate is equivalent to 1.50 times book value as of March 2023 and represents 31% upside.