Better interest income boosts UOB Kay Hian’s FY23 net profit by 61.3% YoY

Net profit for the period was $166.1m.

UOB Kay-Hian ended FY23 with a higher after-tax profit of $166.1m, 61.3% higher than the FY22 record of $102.9m.

In a bourse filing, the company attributed its improved after-tax profit to better interest income driven by higher interest rates.

UOB Kay Hian’s interest income rose 67.2% YoY to $262.3m in FY23.

The company’s other operating income also rose, increasing 3.8% YoY to $36.5m, but its commission and trading income fell by 3.6% YoY to $292.7m.

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