United Overseas Bank Ltd. (Singapore)

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See more articles on United Overseas Bank Ltd. (Singapore)

Company Background

United Overseas Bank (UOB) is one of Singapore's top three banking groups, but the smallest in terms of assets. It was founded in 1935 by the Wee family, which owns a 17% share. CEO and Deputy Chairman Wee Ee Cheong is the third generation of Wees to run the bank. His father, Wee Cho Yaw, shaped the bank into what it is today, through a series of acquisitions and overseas expansions. Cho Yaw is also Singapore's fourth richest man as ranked by Forbes this year. He stepped down from the chairmanship in April 2013 and handed it over to Hsieh Fu Hua, the former head of the Singapore Exchange.

In the past 10 years, UOB has strengthened its footholds in Asia, acquiring smaller banks in Indonesia and Thailand. China is the bank's key overseas market, with 16 outlets there. UOB is looking to grow in western China and opened a branch in the southwestern city of Chongqing in September 2014. UOB is also making inroads in Myanmar. It is one of the first nine international banks to be awarded a bank license from the government.

Business Summary

United Overseas Bank Ltd. (Singapore) engages in the provision of financial services. It operates through the following segments: Group Retail (GR); Group Wholesale Banking (GWB); Global Markets (GM); and Others. The GR segment provides customers with financial solutions. The GWB segment offers tailored financial solutions, services and sector insights. The GM segment manages the bank's liquidity, investments, and market making financial instruments. The Others segment covers non-banking activities and corporate functions. The company was founded by Wee Kheng Chiang on August 6, 1935 and is headquartered in Singapore.

Financial Highlights

Dec 2018	SGD	USD
Revenue	14,353.51M	10,637.72M
Gross Profit	--	--
Operating income	4,700.65M	3,483.76M
Income before tax	4,826.21M	3,576.82M
Net income	3,896.94M	2,888.11M
EBITDA	--	--
Diluted EPS	2.33	1.72
Dividends Per Share	1.20	0.88
Total Assets	388,092.35M	284,733.93M
Total liabilities	350,279.56M	256,991.60M
Total equity	37,623.09M	27,603.15M
Operating cash flow	4,310.32M	3,194.48M
	Currency in SGD	Currency in USD

Historical Data

SGD | USD

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018
Revenue	10,047.93M	10,914.01M	11,351.44M	12,392.02M	14,353.51M
Gross Profit	--	--	--	--	--
Operating income	3,699.18M	3,829.76M	3,783.64M	4,156.68M	4,700.65M
Income before tax	3,824.86M	3,868.70M	3,776.91M	4,206.76M	4,826.21M
Net income	3,183.70M	3,143.49M	3,012.20M	3,287.96M	3,896.94M
EBITDA	--	--	--	--	--
Diluted EPS	1.97	1.93	1.85	1.98	2.33
Dividends Per Share	0.75	0.70	0.70	1	1.20
Total Assets	306,860.84M	316,118.80M	340,140.86M	358,702.05M	388,092.35M
Total liabilities	278,434.83M	286,541.02M	309,193.55M	324,639.43M	350,279.56M
Total equity	28,223.35M	29,422.41M	30,778.70M	33,875.96M	37,623.09M
Operating cash flow	4,508.74M	1,969.39M	4,121.99M	7,072.45M	4,310.32M

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018
Revenue	7,930.55M	7,935.97M	8,221.82M	8,976.61M	10,637.72M
Gross Profit	--	--	--	--	--
Operating income	2,919.66M	2,784.76M	2,740.48M	3,011.04M	3,483.76M
Income before tax	3,018.86M	2,813.07M	2,735.61M	3,047.32M	3,576.82M
Net income	2,512.80M	2,285.75M	2,181.72M	2,381.76M	2,888.11M
EBITDA	--	--	--	--	--
Diluted EPS	1.55	1.40	1.34	1.43	1.72
Dividends Per Share	0.59	0.50	0.50	0.72	0.88
Total Assets	231,575.62M	222,830.71M	235,440.47M	268,409.18M	284,733.93M
Total liabilities	210,123.64M	201,981.47M	214,019.21M	242,920.84M	256,991.60M
Total equity	21,299.04M	20,739.72M	21,304.56M	25,348.66M	27,603.15M
Operating cash flow	3,558.62M	1,432.01M	2,985.54M	5,123.18M	3,194.48M

Valuation Measures

Dec 2018
PER	10.49
ROA	1.04%
ROE	10.90%
Operating margin	32.74%
Profit margin	27.14%

Key executives

Deputy Chairman & Chief Executive Officer: Ee Cheong Wee
Group Head-Technology & Operations: Wai Cheng Hwee
Group Chief Financial Officer: Wai Fai Lee
Chief Information Officer: Setio Darmawan
Group Head-Compliance: Victor Ngo

Shareholders

WEE FAMILY (10.1%)
LIEN FAMILY (5.1%)
Tai Tak Estates Sdn. Bhd. (4.0%)
Haw Par Corp. Ltd. (3.0%)
The Vanguard Group, Inc. (2.2%)
BlackRock Fund Advisors (1.3%)
WEE CHO YAW (1.2%)
Norges Bank Investment Management (0.9%)
Baillie Gifford & Co. (0.9%)
Vontobel Asset Management, Inc. (0.8%)

Contact Details

Website:http://www.uobgroup.com
Address: UOB Plaza, 80 Raffles Place, Singapore, 048624, Singapore
Phone: +65.6533.9898

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Competitors

Krung Thai Bank Public Co., Ltd.
Kasikornbank Public Co. Ltd.

Last Updated on 28 Jan, 2020