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| UOB United Overseas Bank Limited HEAD OFFICE 80 Raffles Place UOB Plaza Singapore 048624 Tel ( 65 ) 6533 9898 Fax ( 65 ) 6534 2334 uobgroup.com Co. Reg . No. 193500026Z News Release UOB's 1H21 net profit increased 29 % to S $ 2 billion on strong customer franchise and stabilising credit outlook Singapore , 4 August 2021 - UOB Group reported a 29 % increase in net earnings to S $ 2.0 billion for the first half of 2021 ( 1H21 ) compared with a year ago , supported by its strong customer franchise and lower credit allowance as more economies reopened during the period . Net earnings for the second quarter of 2021 ( 2Q21 ) stood at S $ 1.0 billion , a year - on - year jump of 43 % . Despite the uneven economic recovery across markets , UOB's proactive and focused approach to supporting customers in their business and investment needs continued to reap positive results . Loans in 1H21 grew 6 % year on year , while fee income rose 28 % on the back of strong wealth management , loan - related and fund management performance . Group Wholesale Banking's revenue grew 5 % to a record S $ 2.1 billion , with cross - border income up 5 % . The increase was driven by the demand for financial solutions from large corporate and institutional clients , especially in Singapore , Greater China and developed markets , that are seeking cross - border trade and investment opportunities across the region . With more companies adopting sustainable business practices , their demand for sustainable financing also grew . The Group extended a total of S $ 13 billion in sustainable financing to its clients as at 30 June 2021 . Group Retail's revenue was up 1 % to S $ 2.1 billion , despite a decline in net interest income . In 1H21 , wealth management fees rose 32 % and assets under management ( AUM ) from high affluent customers increased 7 % to S $ 137 billion . The Group is also steering wealth to sustainable investments . As at 30 June 2021 , total AUM in environmental , social and governance - focused investments was S $ 5.7 billion . Overall asset quality remained resilient as the non - performing loan ( NPL ) ratio was stable at 1.5 % . With strong pre - emptive general allowances taken previously , total credit costs normalised downwards to 24 basis points . 1 SINGAPORE CHINA INDIA INDONESIA MALAYSIA PHILIPPINES THAILAND AUSTRALIA BRUNEI CANADA FRANCE HONG KONG JAPAN MYANMAR SOUTH KOREA TAIWAN UNITED KINGDOM USA VIETNAM / 銀 大 行 華