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# UOB Group Achieves Record FY2024 Net Profit of SGD 6.0 Billion on Fee Growth and Citi Integration
- URL: https://www.theglobalbanker.com/uob-group-fy2024-record-net-profit-sgd-6-billion-fee-growth-citi-integration/
- Published: 2025-02-19T18:49:00.000Z
- Updated: 2026-10-02T13:47:29.000Z
- Description: UOB Group reported a record FY2024 net profit of SGD 6.0 billion, up 6% year on year, as fee income climbed and it completed the integration of Citi's consumer business in Thailand.
- Author: TGB Editorial Team
- Tags: Banking News, Asia-Pacific, #archive

UOB Group posted a record full-year 2024 net profit of SGD 6.0 billion, up 6% year on year, as the Singapore-headquartered bank completed the integration of Citibank's consumer banking operations in Thailand, its third of four Southeast Asian Citi markets, with Vietnam due in 2025\. Total income for the year reached SGD 14.3 billion, a 3% increase on the prior year, while operating profit was SGD 8.0 billion.

Fourth-quarter net profit rose 9% year on year to SGD 1.5 billion. 

#### CITI INTEGRATION NEARS COMPLETION

The integration of Citi's consumer banking business was completed in Malaysia and Indonesia in 2023 and Thailand in 2024, with Vietnam on track for 2025\. 

UOB expects the full integration of the Citi business across the four markets to boost its annualised revenue by SGD 1 billion. 

#### DIVIDENDS AND CAPITAL RETURN

The board recommended a final dividend of 92 cents per share, bringing ordinary dividends for FY2024 to SGD 1.80 per share, and announced a SGD 3 billion capital return package comprising a 50-cent special dividend and a SGD 2 billion share buyback.