United Overseas Bank Ltd. (Singapore)
In the news
- ASEAN banks told to stay cautious with more COVID-19 trouble ahead Aug 6, 2020
- ASEAN banks prepare for flood of bad loans amid coronavirus havoc May 8, 2020
- Hin Leong scandal adds tarnish to fading Singapore brand May 4, 2020
- Coronavirus impact a key factor for China and Singapore banks Apr 27, 2020
- Asia's winners and losers from mayhem in the markets Mar 10, 2020 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
Financial Highlights
Dec 2021 | SGD | USD |
Revenue | 11,918M | 8,868.47M |
Gross Profit | -- | -- |
Operating income | 4,803M | 3,574.02M |
Income before tax | 4,937M | 3,673.74M |
Net income | 4,003M | 2,978.73M |
EBITDA | -- | -- |
Diluted EPS | 2.38 | 1.77 |
Dividends Per Share | 1.20 | 0.89 |
Total Assets | 459,323M | 340,706.14M |
Total liabilities | 418,839M | 310,676.84M |
Total equity | 40,256M | 29,860.17M |
Operating cash flow | 4,655M | 3,463.89M |
Currency in SGD | Currency in USD |
Historical Data
Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | |
Revenue | 12,392.02M | 14,353.51M | 16,381.11M | 13,074M | 11,918M |
Gross Profit | -- | -- | -- | -- | -- |
Operating income | 4,156.68M | 4,700.65M | 5,099.41M | 3,432M | 4,803M |
Income before tax | 4,206.76M | 4,826.21M | 5,174.22M | 3,536M | 4,937M |
Net income | 3,287.96M | 3,896.94M | 4,245.95M | 2,824M | 4,003M |
EBITDA | -- | -- | -- | -- | -- |
Diluted EPS | 1.98 | 2.33 | 2.53 | 1.68 | 2.38 |
Dividends Per Share | 1 | 1.20 | 1.30 | 0.78 | 1.20 |
Total Assets | 358,702.05M | 388,092.35M | 404,408.58M | 431,814M | 459,323M |
Total liabilities | 324,639.43M | 352,406.09M | 366,921.25M | 393,059M | 418,839M |
Total equity | 33,875.96M | 35,496.56M | 37,259.91M | 38,525M | 40,256M |
Operating cash flow | 7,072.45M | 4,310.32M | 4,463.26M | 5,999M | 4,655M |
Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | |
Revenue | 8,976.61M | 10,637.72M | 12,007.87M | 9,478.12M | 8,868.47M |
Gross Profit | -- | -- | -- | -- | -- |
Operating income | 3,011.04M | 3,483.76M | 3,738.03M | 2,488.06M | 3,574.02M |
Income before tax | 3,047.32M | 3,576.82M | 3,792.86M | 2,563.45M | 3,673.74M |
Net income | 2,381.76M | 2,888.11M | 3,112.42M | 2,047.28M | 2,978.73M |
EBITDA | -- | -- | -- | -- | -- |
Diluted EPS | 1.43 | 1.72 | 1.86 | 1.22 | 1.77 |
Dividends Per Share | 0.72 | 0.88 | 0.95 | 0.56 | 0.89 |
Total Assets | 268,409.18M | 284,733.93M | 300,753.77M | 326,723.40M | 340,706.14M |
Total liabilities | 242,920.84M | 258,551.79M | 272,874.90M | 297,400.20M | 310,676.84M |
Total equity | 25,348.66M | 26,042.96M | 27,709.74M | 29,149.16M | 29,860.17M |
Operating cash flow | 5,123.18M | 3,194.48M | 3,271.71M | 4,349.03M | 3,463.89M |
Valuation Measures
Dec 2021 | |
PER | 11.25 |
ROA | 0.89% |
ROE | 10.16% |
Operating margin | 40.30% |
Profit margin | 33.58% |
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 Chief Risk Officer: Kok Seong Chan
Shareholders
- WEE FAMILY (10.1%)
- LIEN FAMILY (5.1%)
- Tai Tak Estates Sdn. Bhd. (4.0%)
- Haw Par Corp. Ltd. (2.7%)
- The Vanguard Group, Inc. (1.9%)
- BlackRock Fund Advisors (1.4%)
- WEE CHO YAW (1.2%)
- Baillie Gifford & Co. (1.0%)
- Fidelity Management & Research Co. LLC (0.9%)
- Norges Bank Investment Management (0.7%)
Contact Details
- Website:http://www.uobgroup.com
- Address: UOB Plaza 2, 80 Raffles Place, Singapore, 048624, Singapore
- Phone: +65.6222.2121
Related Companies
- United Global Income Strategic Bond Fund
- UOBSPG (Securities)
- United 4 to 6 Years Trigger Global Investment Grade Term Fund
- U.S. RE Fund II Offshore Feeder 1 Ltd.
- United Income Daily Ultra Plus Fund
- Industrial & Commercial Property (S) Pte Ltd.
- PT UOB Property
- UOB Realty (USA) LP
- UOB Property Investments China Pte Ltd.
- UOBBF Clearing Ltd.
- UOBM Nominees (Tempatan) Sdn. Bhd.
- United Overseas Bank Ltd. (Brunei)
- United Overseas Bank Ltd. (Myanmar)
- United Overseas Bank Ltd. (United Kingdom)
- United Overseas Bank Ltd. (India)
- United Overseas Bank Ltd. (Japan)
- United Overseas Bank (Vietnam) Ltd.
- United Overseas Bank Ltd. (Vancouver Branch)
- United Overseas Bank Limited
- UOB (Australia) Ltd.
- United Overseas Bank Hong Kong
- United Overseas Bank Ltd. (Taiwan)
- HSBC Holdings Plc /Asian Wholesale Banknotes Bus/
- United Overseas Bank (Australia)
- United Securities (2006) Pte Ltd.
- UOB Bullion & Futures Co. Ltd. (Thailand)
- United Overseas Bank (China) Ltd.
- UOB Travel Planners Pte Ltd.
- UOB Property Investments Pte Ltd.
- UOB Holdings (USA), Inc.
Competitors
- Kasikornbank Public Co. Ltd.
- CIMB Thai Bank Public Co. Ltd.
Copyright © 2022 FactSet Research Systems Inc. All rights reserved.
Last Updated on 28 Jun, 2022Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.