Net interest income eased 2% YoY in a lower interest rate environment.

Net interest income eased 2% YoY in a lower interest rate environment. UOB Group’s net profit rose 10% year-on-year (YoY) to $1.5b in the second quarter of the year (Q2). The bank said net interest income eased 2% from the previous year due to lower interest rates pressuring margins, despite a 5% increase in loans and active balance sheet management. Trade loans rose 33% YoY, whilst current and savings account balances increased 9%. Across Malaysia, Indonesia, Thailand, and Vietnam, trade loans grew 14%, and CASA balances rose 9% from a year earlier.