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Credits: UOB Ltd

Last update: 26.05.2021

Business Summary

United Overseas Bank Ltd (SGX: U11) is a public listed bank in the Singapore Stock Exchange (SGX). It is founded by Malaysian Wee Keng Chiang in 1935, 11 years after he founded Ban Chiang Bank (now known as CIMB Group Holdings Berhad). 

UOB was founded as United Chinese Bank (UCB), it was not until the year 1965 it only changed to the name that we know of today. Over the years since its founding, UOB has been aggressive in mergers and acquisitions. 

Today, UOB is ASEAN’s 3rd largest bank behind another 2 Singapore banks. 

As of FY 2020, interest income contributes to around 66% of UOB Ltd’s revenue. Income from fees and commission has the second-largest contribution at 22%. Trading income and other income contributes to the remaining 13% of its revenue.

Source: UOB Ltd FY 2020 Annual Report

Management & Substantial Shareholders

The current CEO of UOB Ltd is Mr Wee Ee Cheong. Mr Wee took over from his father, Chairman Emeritus Dr Wee Cho Yaw. Under the tenure of Dr Wee, UOB Ltd grew from a national bank to a leading bank in Asia.

From left: Dr Wee Cho Yaw & Mr Wee Ee Cheong
Substantial shareholders of UOB Ltd. Source: FY 2020 Annual Report

UOB Ltd is held mostly by the Wee family. Altogether they have a 55% deemed interest in UOB shares. 

Financial Performance

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The information available in this article/report/analysis is for sharing and education purposes only. This is neither a recommendation to purchase or sell any of the shares, securities or other instruments mentioned; nor can it be treated as professional advice to buy, sell or take a position in any shares, securities or other instruments. If you need specific investment advice, please consult the relevant professional investment advice and/or for study or research only.
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