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Retail Asia10/07/2023

UOB Vietnam, a subsidiary of UOB, is proud to mark three decades of unrelenting support for Vietnam and its people. The bank held a gala dinner on Wednesday for clients and partners to thank them for their support and trust. To commemorate the 30th anniversary, it also announced a partnership with Saigon Children’s Charity to […]

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Retail Asia04/01/2023

The Singapore-based United Overseas Bank (UOB) has kept its forecast for Vietnam’s GDP growth in 2023 unchanged at 6.6% in line with the official forecast of 6.5%, although growth momentum is likely to be weaker. In its report on Vietnam’s economic growth in the last quarter of 2022 and prospects for 2023, the bank said […]

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Retail Asia02/06/2022

Singaporean bank UOB has named Victor Ngo its CEO in Vietnam. The 30-year banking veteran replaces Harry Loh, who returns to Singapore to lead group non-financial risk management, according to a statement. He started working for UOB in 2004 and has occupied several key positions, including head of group internal audit and head of group […]

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Retail Asia12/11/2021

The region’s fintech firms brought in $3.5 billion in funding in the first nine months of 2021 – up more than three times compared to the whole of 2020. The rebound in fintech funding was driven by 167 deals including 13 mega-rounds, which accounted for $2 billion of the total funding, said in the FinTech […]

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Retail Asia03/11/2021

The bank rode on loan growth and fee income, as well as lower credit allowance, to post modest growth amid slower-than-expected economic recovery across the region. UOB’s net profit after tax for the third quarter of 2021 was 4 percent higher quarter-on-quarter to reach S$1.05 billion ($780 million), according to financial results published on Wednesday. […]

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Retail Asia13/10/2021

The platform will be launched first in Singapore, with subsequent roll-outs in Malaysia, Thailand, and Indonesia. UOB is launching an integrated financing platform U-Energy to drive the development and adoption of energy efficiency projects for buildings and homes, as part of its Smart City Sustainable Finance Framework. The bank highlighted that buildings and construction projects […]

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Retail Asia08/10/2021

This initiative comes amid a rise in the use of digital securities to enhance the efficiency of bonds and other fixed-income instruments. UOB and ADDX have completed the digitization and digital custody of a S$50-million portion of the $675 million sustainability-linked bonds recently launched by Sembcorp Industries, according to an announcement on Thursday. The ten-and-a-half-year […]

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Retail Asia29/09/2021

The bank said it would invest up to $500 million in digital innovation initiatives to reach its goal of serving more than 7 million customers in Asean. With digital banking now the preferred choice among UOB customers, the bank is «doubling down» on its data-driven model to create hyper-personalized digital experiences for its customers. The […]

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Retail Asia30/08/2021

UOB has announced changes to its board, including the addition of a 40-year banking veteran as its new independent director. Tracey Woon joins UOB as an independent director as well as a member of its audit committee and board risk management committee, according to a statement, effective September 1. Woon, 65, is currently a director at […]

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Retail Asia13/08/2021

The experienced equity brokerage and investment banker will head up Haitong Securities’ corporate finance team in Singapore. UOB’s former head of equity capital markets (ECM) Jack Kang has joined Haitong International Securities (Singapore) as an executive director. Kang, who moved to Haitong in July, spent 11 years at UOB. He was previously ECM vice president at […]

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Retail Asia04/08/2021

The bank posted a record quarterly wholesale banking income of $848 million, and a record AUM in wealth management in the first half of 2021. UOB posted second-quarter earnings of S$1 billion ($740 million), unchanged from the first quarter, which brought first-half earnings of S$2 billion, according to financial statements released on Wednesday. Net profit was […]

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Retail Asia28/06/2021

The bank aims to double its wealth fee income by 2026, which translates to a compound annual growth rate of over 15 percent over the next five years. UOB is hoping get more of its customers to kickstart their investment journey by expanding its digital wealth offerings and investing in digital innovation, particularly as customers in the […]

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Retail Asia17/06/2021

The bank has priced S$600 million of perpetual capital securities at a fixed coupon rate of 2.55 percent – the lowest for benchmark perpetual securities for banks in Singapore. UOB is piloting the digital issuance of its latest bond offering on exchange-operated digital asset issuance platform Marketnode, the bank said in an announcement on Wednesday. The non-call […]

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Retail Asia14/06/2021

The initiative will remove one of the roadblocks – the need for physical signatures – in fully digitalizing the documentation process. UOB is starting a 12-month trial to test the use of Government Technology Agency’s (GovTech) Sign with Singpass among its retail and corporate customers, which will be used to confirm transactions such as individual […]

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Retail Asia11/06/2021

The initiative will remove one of the roadblocks – the need for physical signatures – in fully digitalizing the documentation process. UOB is starting a 12-month trial to test the use of Government Technology Agency’s (GovTech) Sign with Singpass among its retail and corporate customers, which will be used to confirm transactions such as individual […]

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Retail Asia19/05/2021

The loans will help two of the bank’s clients in Singapore’s food supply chain build on their sustainability initiatives and strengthen their supply chain resilience. UOB has extended its first green trade finance facilities under the Green Finance Industry Taskforce’s Green and Sustainable Trade Finance and Working Capital Framework to palm oil and derivatives products producer […]

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Retail Asia14/05/2021

The protracted COVID-19 pandemic is no longer just a disruption to the way we work but has transformed permanently the world of work, Chan Kok Seong, UOB’s group chief risk officer, says in an interview. The future of work is shaping into a hybrid model that optimizes employee flexibility, autonomy and performance across locations. While […]

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Retail Asia11/05/2021

UOB is the latest bank to express interest in potentially acquiring Citi’s retail assets in the Asia Pacific region. UOB chief executive Wee Ee Cheong said that the Singapore lender would provide more clarity on acquisition plans after Citi release more details later this month. As long as it’s a strategic fit, is at the right […]

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Retail Asia06/05/2021

The bank’s quarterly earnings surged on the back of strong fees, trading, and investment income as business momentum improved. UOB’s earnings grew to S$1 billion ($750 million) in the first quarter of 2021 – up 46 percent from the previous quarter’s S$688 million and up 18 percent from the same period last year, according to financial […]

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Retail Asia13/04/2021

UOB appoints a chief sustainability officer in yet another industrywide move towards expanding the green finance market. Eric Lim has been named as the Singapore bank’s CSO, according to a statement, as an extension to his existing role as head of group finance. Lim also joins UOB’s management committee and reports directly to deputy chairman and […]

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