UOB’s net profit climbed 10 per cent to S$1.48 billion, as higher fee and other non-interest income helped offset weaker net interest income. Wealth remains the biggest earnings engineAs falling interest rates squeeze lending margins, wealth management continues to do much of the heavy lifting for Singapore’s banks. Its momentum has been particularly strong outside Singapore, with wealth income from its four key Asean markets – Malaysia, Indonesia, Thailand and Vietnam – rising 30 per cent. It also expects group net interest income to narrow its gap with last year’s level. The lender also expects full-year income to grow year on year despite a slight decline in net interest income.