United Overseas Bank Limited (Simplified Chinese: 大华银行有限公司;
PinyinPinyin is the official system to transcribe Chinese characters into the Roman alphabet in China, Malaysia, Singapore and Taiwan. It is also often used to teach Mandarin Chinese and spell Chinese names in foreign publications and used as an input method to enter Chinese characters into...
: Dàhuá Yínháng Yǒuxìan Gōngsī), abbreviated as
UOB (Simplified Chinese: 大华银行;
PinyinPinyin is the official system to transcribe Chinese characters into the Roman alphabet in China, Malaysia, Singapore and Taiwan. It is also often used to teach Mandarin Chinese and spell Chinese names in foreign publications and used as an input method to enter Chinese characters into...
: Dàhuá Yínháng) is a
bankA bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
incorporatedIncorporation is the forming of a new corporation . The corporation may be a business, a non-profit organisation, sports club, or a government of a new city or town...
in
SingaporeSingapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
. It was founded 6 August 1935 by
KuchingKuching , officially the City of Kuching, and formerly the City of Sarawak, is the capital and most populous city of the East Malaysian state of Sarawak. It is the largest city on the island of Borneo, and the fourth largest city in Malaysia....
-born Datuk Wee Kheng Chiang, father of the present United Overseas Bank Group Chairman, Mr.
Wee Cho YawMr Wee Cho Yaw , is the incumbent Chairman of the United Overseas Bank Group .Wee Cho Yaw joined the Board of Directors of the then United Chinese Bank in 1958...
, and a group of seven Chinese businessmen. UOB is currently the third largest bank based in Singapore.
UOB has grown from strength to strength and it is now a leading bank in Asia. UOB has major banking subsidiaries in Malaysia, Indonesia, Thailand and China. Today, the UOB Group has more than 500 offices in 19 countries and territories in Asia Pacific, Western Europe and North America.
UOB has been supporting its customers to expand their business and to generate wealth in the past decades through its extensive regional expertise and experience. In Singapore, UOB is a leader in the credit card and private residential home loan markets. It is also a key player in loans to small and medium enterprises.
UOB is rated among the world’s top banks by Moody’s Investors Service, receiving B for financial strength, and Aa1 and Prime-1 for long-term and short-term bank deposits respectively.
Bank Subsidiaries
- Far Eastern Bank (Singapore)
- UOB Malaysia (Malaysia)
- UOB Thailand (Thailand)
- PT Bank UOB Indonesia (Indonesia)
- PT Bank Buana (Indonesia)
Far Eastern Bank (Singapore)
In 2001, the bank successfully acquired Overseas Union Bank Ltd with a US$5.7 billion offer which outbid rival
DBS BankDBS Bank Ltd is a bank incorporated in Singapore. It was previously known as The Development Bank of Singapore Limited, before the present name was adopted in July 2003 to reflect its changing role as a regional bank....
's $5.2 billion bid. It
legallyLaw is a system of rules and guidelines which are enforced through social institutions to govern behavior, wherever possible. It shapes politics, economics and society in numerous ways and serves as a social mediator of relations between people. Contract law regulates everything from buying a bus...
became a single
entityAn entity is something that has a distinct, separate existence, although it need not be a material existence. In particular, abstractions and legal fictions are usually regarded as entities. In general, there is also no presumption that an entity is animate.An entity could be viewed as a set...
under the UOB name from 2 January 2002, becoming
SingaporeSingapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
's largest bank in terms of domestic
customer loanIn economics, consumer debt is outstanding debt of consumers, as opposed to businesses or governments. In macroeconomic terms, it is debt which is used to fund consumption rather than investment...
s,
credit cardA credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services...
s and market capitalisation.
UOB Malaysia
United Overseas Bank (Malaysia) Bhd (UOB Malaysia) is a subsidiary of the United Overseas Bank Group, Singapore. Incorporated in Malaysia in 1993, UOB Malaysia took over the operations of Lee Wah Bank Limited (LWB) in 1994. LWB was incorporated in Singapore in 1920 and opened its first Malaysian branch in 1956. In 1973, LWB became a wholly owned
subsidiaryA subsidiary company, subsidiary, or daughter company is a company that is completely or partly owned and wholly controlled by another company that owns more than half of the subsidiary's stock. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a...
of United Overseas Bank Limited, Singapore.
On 7 June 1997, UOB Malaysia merged with Chung Khiaw Bank (Malaysia) Bhd (CKBM) and enlarged its paid up capital from
RMThe Malaysian ringgit is the currency of Malaysia. It is divided into 100 sen...
210 million to RM470 million. United Overseas Bank (Malaysia) Bhd and Overseas Union Bank (Malaysia) Bhd merged into one legal entity on 2 February 2002 following the merger of UOB and OUB in Singapore.
UOB Thailand
UOB Thailand has merged UOB's two banking subsidiaries, Bank of Asia Public Company Limited ("BOA") and UOB Radanasin Bank Public Company Limited ("UOB Radanasin"). UOB is undertaking a delisting tender offer for the remaining 0.01% shares in UOB Radanasin not held by it, to then delist UOB Radanasin and then sell its entire stake UOB Radanasin to BOA. Following the merger UOB Radanasin will be liquidated and its name changed to "United Overseas Bank (Thai) Public Company Limited".
UOB's Thailand headquarters is Sathorn Road's
Robot BuildingThe Robot Building, located in the Sathorn business district of Bangkok, Thailand, houses United Overseas Bank's Bangkok headquarters. It was designed for the Bank of Asia by Sumet Jumsai to reflect the computerization of banking; its architecture is a reaction against neoclassical and high-tech...
.
PT Bank UOB Indonesia
Singapore's United Overseas Bank is raising its stake in Indonesia's PT Bank Buana Indonesia. In a statement, UOB said its wholly owned subsidiary - United Overseas Bank International Investment (UOBII) - had entered into an agreement with P.T. Sari Dasa Karsa for the acquisition of 1,729,872,821 shares in P.T. Bank Buana Indonesia Tbk. The completion of the acquisition is conditional upon certain matters, including the execution of a definitive sale and purchase agreement, and obtaining regulatory consents. On 15 July 2005, UOB requested trading in its shares to be halted pending an announcement. The company has requested the lifting of
trading haltA trading halt occurs in the U.S. when a stock exchange stops trading on a specific security for a certain time period. The halt usually lasts for one hour, but is not limited to that. Trading halts occur during the trading day , while a trading delay occurs at the beginning of the trading day...
on 18 July 2005. UOB currently owns 23 percent of the issued common shares in Bank Buana. After completion of the acquisition, its shareholding will increase to 53 percent and Bank Buana will become a subsidiary of UOBII. Upon completion of the acquisition, UOB will conduct a tender offer for the rest of the shares in Bank Buana.
The total consideration for the sales is approximately
S$The Singapore dollar or Dollar is the official currency of Singapore. It is normally abbreviated with the dollar sign $, or alternatively S$ to distinguish it from other dollar-denominated currencies...
285 million. UOB intends to fund the acquisition using internal resources. The Singapore lender bought a 23 percent stake in Bank Buana for S$196 million in 2004
http://www.uob.com.sg/assets/pdfs/bankbuana.pdf
UOB Philippines
United Overseas Bank (Philippines) (UOB Philippines) is also a subsidiary of the United Overseas Bank Group, Singapore. This subsidiary was formed in 1999, and has the largest branch network in the Philippines among all the foreign based banks in the country. In late April 2005, there was talk about selling UOB Philippines or merging it with other banks as losses mounted.
United Overseas Bank has said it is selling 66 of its 67 Philippine branches to
Banco de Oro Universal BankBanco de Oro Universal Bank , commonly known as Banco de Oro and BDO, is a major bank in the Philippines. It is owned by the SM Group of Companies, one of the country's largest conglomerates and owner of the SM chain of malls...
, in a move aimed at rationalising its operations in the country. The deal is worth 600 million pesos, or S$11.1 million, and is subject to due diligence and regulatory approval. UOB Philippines was in the red to the tune of some S$21 million in 2004, due to a poor business environment. In 2003 it booked a loss of S$19.7 million. UOB said it was converting UOB Philippines into a thrift bank, focusing on wholesale banking and fee-based income. As such, it would not need a full branch network; hence, the sale to Banco De Oro.
The Philippine losses are relatively small compared with the S$1.45 billion in net profit that UOB earned in 2004. Looking at the bigger picture, analysts say the deal will allow UOB to focus instead on other more profitable overseas markets. Analysts expect UOB to post a 2005 full-year net profit of S$1.7 billion, up some 17 percent from last year, as contributions from these purchases kick in.
UOB China
United Overseas Bank (China) Limited is a wholly owned subsidiary of United Overseas Bank Limited, Singapore. UOB’s first representative office was opened in Beijing in 1984. UOB (China) has since expanded its presence to include 10 branches and sub-branches in major cities across China.
UOB was the first bank from Southeast Asia authorised to handle capital accounts in Shanghai. In 2006, UOB received its Qualified Foreign Institutional Investor (QFII) licence to buy and sell yuan-denominated "A" shares in China's mainland stock exchanges in Shanghai and Shenzhen.
UOB (China) received the retail Renminbi (RMB) licence and Shanghai Gold Exchange trading membership in 2008 and 2011 respectively. This further extended the bank’s business offerings in China.
Management team
- Wee Cho Yaw, Chairman
- Wee Ee Cheong, Chief Executive Officer
- Chong Kie Cheong, Managing Director (Group Institutional Financial Services & Private Banking)
- Lee Chin Yong Francis, Managing Director (Group Retail)
- Ong Sea Eng Terence, Managing Director (Global Markets & Investment Management)
- Chan Vivien, Managing Director (Group Legal & Secretariat)
- Cheo Chai Hong, Managing Director (Corporate Planning & International Strategy)
- Chew Mei Lee, Managing Director (Group Compliance)
- Hwee Wai Cheng Susan, Managing Director (Group Technology & Operations)
- Khoo Boo Jin Eddie, Managing Director (Group Personal Financial Services)
- Lee Wai Fai, Chief Financial Officer & Managing Director (Group Finance & Corporate Services)
- Liew Khiam Soong Peter, Managing Director (Group Credit (Corporate & Financial Institutions Group)
- Ngeo Swee Guan Steven, Managing Director (Group Credit (Retail)
- Mok Chek Pfam, Managing Director (Management Portfolio)
- Ng Kwan Meng, Managing Director (Group Global Markets)
- Ngo Victor, Managing Director (Group Audit)
- Tham Kah Jin Eric, Managing Director (Group Commercial Banking)
- Tham Ming Soong, Managing Director (Group Risk Management)
- Tjuradi Karunia Wirawan, Managing Director (Corporate Banking — Regional)
- Teo Gim Choo Wendy, Managing Director (Channels)
- Wee Joo Yeow, Managing Director (Corporate Banking, Singapore)
- Wong Mei Leng Jenny, Managing Director (Group Human Resources)
- Yeo Eng Cheong, Managing Director (Group Credit (Middle Market & Structured Trade & Commodity Finance)
- Armand B. Arief, President Director, PT Bank UOB Indonesia
- Chan Kok Seong, Chief Executive Officer, United Overseas Bank (Malaysia) Bhd
- Tan Kian Huat, President & Chief Executive Officer, United Overseas Bank (China) Limited
- Wong Kim Choong, President & Chief Executive Officer, United Overseas Bank (Thai) Public Company Limited
External links
UOB Group
UOB Subsidiaries