UOB's Financial Outlook: Hold Rating Amid Credit Provisions and NIM CompressionWe maintain our Hold call as we believe there could be further provisioning should UOB’s credit quality deteriorate. Upside risks: write-back of provisioning, improving non-II from lower credit card expenses from harmonisation of credit card rewards and acceleration in trading income. Downside risks: weaker macroeconomic conditions, which could lead to a step-up in general provisions, impacting earnings, as well as a slowdown in non-II growth.