United Overseas Bank's (SGX:U11) net profit for the fourth quarter of the year ended Dec. 31, 2024 increased 9% to SG$1.52 billion from SG$1.40 billion a year earlier, according to a Wednesday filing with the Singapore Exchange.

Core net profit was up 3% to SG$1.54 billion from SG$1.50 billion a year earlier.

Net interest income was up 2% year over year to SG$2.45 billion from SG$2.40 billion, mainly due to loan growth of 5%. Analysts polled by Visible Alpha estimated net interest income of SG$2.44 billion.

The board recommended a final dividend of SG$0.0092 per share, taking the total dividend for the year to SG$1.80 per share.