UNITED OVERSEAS BANK LTD. (UOB)

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.

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.

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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