KUALA LUMPUR, Malaysia, May 6 (Bernama) — UOB Malaysia reported a record net profit before tax (NPBT) of RM2.2 billion and total operating income of RM4.7 billion for the financial year ended 2024. The Bank’s net profit before tax increased by 15.9 per cent (2023: RM1.9 billion), while operating income grew by 2.3 per cent (2023: RM4.6 billion). The Bank’s financial performance for 2024 was disclosed in its Annual Report 2024, which was published today.
The increase in operating income was backed by steady growth across all income streams, including net interest income, Islamic banking, net foreign exchange gains and fees and commissions. Meanwhile, total expenses decreased by RM22 million due to disciplined cost management, while total allowances for expected credit losses declined significantly by 52.1 per cent to RM159 million with improved asset quality and lower provisions for both impaired and non-impaired assets.
