0811 GMT - United Overseas Bank's earnings should remain resilient this year, as around 85% of its loan book is exposed to Asean and Greater China, CGS International analysts write in a note. The Singapore bank could benefit from the rerouting of trade flows away from the U.S., they say. However, potentially steeper rate cuts by the Fed coupled with a lagged effect of loan repricing could exacerbate margin pressure in 2H, they add. UOB could also continue to recognize higher general provisions for the remainder of the year. CGS International cuts its target price for the stock to S$38.60 from S$38.80, while maintaining an add rating. Shares are down 0.2% at S$34.41. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
May 08, 2025 04:11 ET (08:11 GMT)
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