United Overseas Bank, the Singapore-based financial services group, posted robust gains in the first quarter of 2012 attributed to strong performances at its core businesses.

Fee income delivered its strongest quarter since the 2008 financial crisis, up 10.8 per cent to S$362 million ($289 million). The higher fees were recorded from loan-related activities, wealth management products and corporate finance activities. Trading and investment income figured at S$203 million. 

Net earnings for the three months to 31 March 2012 rose 23.3 per cent from the previous quarter to S$688 million ($550 million), up 12.4 per cent from the same period last year. Net interest income was up 2.1 per cent in the quarter to reach a new high of S$998 million, while non-interest income grew 26.1 per cent to S$630 million. 

Businesses in Singapore and Malaysia contributed the most to loan growth for the quarter, which rose 2.6 per cent to S$148 billion. UOB is currently growing its private banking franchise in Malaysia by a target 40 per cent in 2012 as it seeks capture more of the country's high net worth client base. (See related story here.) Across Asia, deposits remained strong at S$169 billion, while the loans-to-deposits ratio was at 86 per cent.  

United Overseas Bank has a global network of over 500 offices in 19 countries.