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|| UOB First Quarter 2021 Performance Highlights 6 May 2021 UOB achieves strong start to 2021 with 1Q profit up 46 % QoQ to S $ 1 billion , driven by broad - based growth with record fees Balance sheet remained resilient supported by strong liquidity , capital and coverage UOB Group ( Group ) has achieved a strong start to 2021 , with first quarter ( 1Q21 ) net profit rising 46 % quarter on quarter ( QoQ ) to S $ 1.0 billion . The solid rebound came on the back of broad - based growth across the Group's diversified franchise . and Income also increased 11 % on a quarterly basis to S $ 2.5 billion , which is around pre - COVID - 19 levels . Fee income reached a new high , led by wealth fees management from investments bancassurance . This was in addition to healthy loans and investment banking activities such as major advisory trades , coupled with stronger treasury income . The Group's strong performance was supported by its resilient , well - secured portfolio and asset quality . Credit costs in 1Q21 eased to 29 basis points in view of the proactive sizeable provisions made in 2020 . Balance sheet remained robust with ample liquidity and strong Common Equity Tier 1 ( CETI ) ratio at 14.3 % . - 1Q21 key financial indicators Operating profit S $ 1.4b + 16 % QoQ + 6 % YoY Cost / Income ratio 43.8 % - 2.9 % pt QoQ - 1.3 % pt YoY NPL ratio 1.5 % -0.1 % pt QoQ -0.1 % pt YoY NSFR ratio 121 % -4 % pt QoQ + 12 % pt YoY Right on course for strong , sustainable growth Mr. Wee Ee Cheong , Deputy Chairman and Chief Executive Officer , UOB Net profit after tax S $ 1.0b + 46 % QoQ + 18 % YOY Credit costs 29bps -26bps QoQ -7bps YoY Customer loans S $ 293b + 4 % QoQ + 5 % YoY CET 1 ratio 14.3 % -0.4 % pt QoQ + 0.2 % pt YoY " UOB has achieved a strong start to 2021 with revenue drivers accelerating in the first quarter and net profit rebounding strongly , up 46 per cent to S $ 1 billion . Our core businesses are growing well across our diversified franchise and we are seeing quality growth with record fee income . We expect this momentum to continue as economic and business activity picks up and market sentiment improves across the region , starting with Singapore and Greater China . Across our key markets , we are seeing robust credit demand from our large corporate and institutional clients . We support them through our established network and connectivity , deep sectoral insights and local expertise . Asia's prospects remain bright . Even so , we stay vigilant and nimble . As a responsible financial steward , we help our customers grow their business and wealth and create value for our stakeholders in forging a sustainable future . " 銀 大 行 華