UOB Suspends 2025 Outlook Amid Global Headwinds

United Overseas Bank (UOB) reported a flat first-quarter net profit of S$1.49 billion ($1.16 billion) for 2025, missing some analyst expectations as global macroeconomic uncertainties, particularly from U.S. tariffs and trade disruptions, weighed on results. UOB saw growth in net interest and fee incomes, but increased its allowances for credit and other losses due to the volatile environment. The bank has suspended its 2025 financial guidance until there is more clarity on global trade issues, marking a shift from its previous outlook. Despite these headwinds, UOB reaffirmed its commitment to return S$3 billion of surplus capital to shareholders over the next three years. The CEO emphasized ongoing challenges but maintained confidence in ASEAN’s long-term prospects. Additionally, UGI Corp. reported a second-quarter profit of $479 million, surpassing analyst expectations despite a year-over-year decline.