Tuesday, March 1, 2011

United Overseas Bank rated 'buy' by DMG

Stock Name: UOB
Company Name: UNITED OVERSEAS BANK LTD
Research House: DMG

DMG & Partners Securities in a Feb 28 research report says: "UOB reported 4Q10 net profit of $706 million, up 2.6% q-o-q. This is stronger versus our $571 million expectation due to higher non-interest income (up 20% sequentially). Trading and investment income jumped nine-fold y-o-y to $295 million on higher gain from sale of investment securities.

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