UOB's Q1 net profit rises 1.6 pct, slightly below expectations

April 29, 2015 11:50 PM

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SINGAPORE, April 30 (Reuters) - United Overseas Bank , Singapore's third-biggest lender, posted a 1.6 percent rise in quarterly profit, but the earnings were slightly below analysts' average forecast as the bank reported slower loan growth than its two rivals.

UOB said net profit for the January-March period came in at S$801 million ($606.3 million), slightly below an average forecast of S$807 million from six analysts polled by Reuters. It reported a net profit of S$788 million a year earlier.

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