Singapore-based United Overseas Bank reported growing revenue from greater China in the first quarter despite a muted bottom line.
Net profit was S$1.5bn (US$1.1bn), in line with forecasts but down 2 per cent from the same period last year. Net interest income fell 2 per cent year on year to S$2.4bn.
Revenue from greater China, comprising the mainland, Hong Kong and Taiwan, rose to S$330mn, a 36 per cent increase over last year.
UOB also reported a 15 per cent year on year increase in wealth management income.
Shares in the company were down 1 per cent in early trading on Wednesday.
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