Kuala Lumpur: UOB Malaysia has achieved a record high net profit before tax (NPBT) of RM2.2 billion for the year 2024. This marks an increase of 15.8 per cent compared to the previous year (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.

According to Nam News Network, the increase in operating income was supported 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, and total allowances for expected credit losses declined significantly by 52.1 per cent to RM159 million. This decline was attributed to improved asset quality and lower provisions for both impaired and non-impaired assets.