DIRS.INFO top alerts submit data jurnalism about API
login
Top related persons:
UOB - 3 Wee Ee Cheong - 2 Lee Wai Fai - 2 Wee Ee - 1 Wee - 1 UOB's - 1 CNBC's - 1 Lee - 1
Top related locs:
Singapore Southeast Asia China Southeast ASEAN U.S SHANGHAI SINGAPORE
Top related orgs:
Singapore's United Overseas Bank - 6 United Overseas Bank Ltd - 1 United Overseas Bank - 1 Raffles - 1 Citigroup - 1 LSEG - 1 Central Huijin Investment - 1 Shanghai QiuYang - 1

Search resuls for: "Singapore's United Overseas Bank"


9 mentions found


☆ UOB reports first-quarter profit fell less than expected, maintains 2024 growth outlook
  + stars: | 2024-05-08 | by ( ) www.cnbc.com   time to read: +1 min
Singapore's United Overseas Bank, or UOB, reported a smaller-than-expected decline in first quarter net profit on Wednesday, squeezed by net interest margins, and maintained its outlook for income growth in 2024. Singapore's United Overseas Bank reported a smaller-than-expected decline in first-quarter net profit on Wednesday, squeezed by net interest margins, and maintained its outlook for income growth in 2024. "Despite heightened geopolitical tensions, our home region of Southeast Asia is relatively resilient," UOB CEO Wee Ee Cheong said in a statement. "We continued to see ongoing shifts in global supply chains and sustained tourism activities," he added. UOB, which is also Southeast Asia's third-largest bank by assets, also maintained its guidance for low single-digit loan growth and double-digit fee growth, according to Wee's presentation slides accompanying the results.
Persons: Wee Ee Cheong Organizations: Singapore's United Overseas Bank Locations: Southeast Asia
☆ Singapore's UOB revises down 2024 loan growth, fourth-quarter profit beats forecasts
  + stars: | 2024-02-22 | by ( ) www.cnbc.com   time to read: +1 min
A customer uses an ATM at an United Overseas Bank Ltd. (UOB) branch in Singapore, on Thursday, Feb. 23, 2023. Singapore's United Overseas Bank, or UOB, on Thursday cut its 2024 loan growth projections to low single-digits from mid-single digits after posting a stronger-than-forecast 22% jump in fourth quarter net profit. UOB maintained its 2024 guidance for double-digit fee growth while projecting total income to see positive growth, according to UOB CEO Wee Ee Cheong's earnings presentation slides. Credit costs for 2024 are expected to be at the lower end of its previous 25 to 30 basis points guidance range. "Global economic outlook remains uncertain in the near term, but Southeast Asia continues to be a bright spot," Wee said in a statement.
Persons: UOB, Wee Ee, Wee Organizations: United Overseas Bank Ltd, Singapore's United Overseas Bank Locations: Singapore, Southeast Asia
☆ Singapore bank UOB sees stronger 2024 outlook, third-quarter net profit trails estimate
  + stars: | 2023-10-26 | by ( ) www.cnbc.com   time to read: +1 min
The United Overseas Bank (UOB) building is pictured in the Raffles Place financial district in Singapore on August 10, 2023. Singapore's United Overseas Bank , or UOB, expected a stronger outlook for next year including better loan and fees growth, as it reported on Thursday a weaker-than-expected 1% drop in third-quarter net profit from a year earlier. UOB, Singapore's third-largest bank by assets, projected mid single-digit loan growth and double-digit fee growth for its 2024 outlook, versus low-to-mid single-digit loan growth and high single-digit fees growth for this year's outlook. UOB said July-September net profit dropped to S$1.38 billion ($1 billion) from S$1.40 billion a year earlier, mainly on the back of higher allowances for credit and other losses, as well as Citigroup integration costs. The profit was lower than the mean estimate of S$1.46 billion from four analysts polled by LSEG.
Persons: Wee Ee Cheong, UOB's, UOB Organizations: United Overseas Bank, Raffles, Singapore's United Overseas Bank, Citigroup, LSEG Locations: Singapore, Southeast, ASEAN
☆ U.S. and China commercial property markets face headwinds but UOB is optimistic on Southeast Asia
  + stars: | 2023-10-26 | by ( Lee Ying Shan | ) www.cnbc.com   time to read: +1 min
Commercial real estate markets in the U.S. and China are economic pain points to monitor in a higher-for-longer rate environment, said Singapore's United Overseas Bank. But the bank remains optimistic about one key region. "The U.S. commercial real estate remains a hotspot, especially with the low occupancy rates that we have," Lee Wai Fai, chief financial officer of UOB told CNBC's "Street Signs Asia." "The other hotspots will be China, there [are] worries about the quality and whether they can manage the property uncertainty in China," he added. Lee added the world is heading into a more "uncertain environment" and the impact of higher-for-longer interest rates is starting to filter through the economy.
Persons: Lee Wai Fai, UOB, CNBC's, Lee Organizations: Singapore's United Overseas Bank Locations: U.S, China
☆ China's big policy moves draw cautious investors back to beat-down stock market
  + stars: | 2023-10-25 | by ( Samuel Shen Ankur Banerjee | Samuel Shen | Ankur Banerjee | ) www.reuters.com   time to read: +5 min
Investors were also excited by Tuesday's approval of an additional 1 trillion yuan ($136.76 billion) of sovereign bond issuance. Drawing investors back into China's $10.5 trillion stock market, particularly the foreign buyers that have fled in droves this year, would stem further slides in a market which fell to its lowest since 2019 earlier this week. "China's central government is endorsing the stock market," said Qi Wang, chief investment officer of UOB Kay Hian's wealth management division in Hong Kong. Huijin last bought ETFs during the 2015 stock market crash, and during the money market liquidity crunch in 2013. Still, China's stock markets have to overcome earlier heavy selling from foreigners, burnt by Xi's previous crackdowns on internet companies and other sectors, and its earlier stringent zero-COVID policy.
Persons: China's, Huang Yan, QiuYang, Huang, Pan Gongsheng, Qi Wang, UOB Kay, Huijin, Fabiana Fedeli, Fedeli, Goldman Sachs, Samuel Shen, Ankur Banerjee, Brigid Riley, Vidya Ranganathan Organizations: Central Huijin Investment, Shanghai QiuYang, People's Bank of China, Sino, CSI, Huijin, China Asset Management Co, Singapore's United Overseas Bank, G Investments, Thomson Locations: SHANGHAI, SINGAPORE, Shanghai, China, Hong Kong, Tokyo
☆ Singapore's UOB expects 'some upside' to interest income after Fed rate hike
  + stars: | 2023-07-27 | by ( Clement Tan | ) www.cnbc.com   time to read: +1 min
Singapore's United Overseas Bank is expecting "some upside" in interest income in the next quarter, after the U.S. Federal Reserve announced a fresh rate hike overnight. Its net interest income for the quarter grew 31% from a year ago — boosted by robust net interest margin that expanded 50 basis points to 2.13% on higher interest rates, the Singapore-based lender said in a statement released early Thursday. Net interest margin, a measure of lending profitability for banks, is the difference between interest earned and interest paid. Overnight on Wall Street, the Fed raised interest rates by 25 basis points, taking its benchmark borrowing costs to a target range of 5.25%-5.5% — the highest level in more than 22 years. The midpoint of that target range would be the highest level for the benchmark rate since early 2001.
Persons: Lee Wai Fai, CNBC's JP Ong Organizations: Singapore's United Overseas Bank, U.S . Federal Reserve Locations: Singapore
☆ Singapore lender UOB's Q1 core profit leaps 74% to record $1.2 bln
  + stars: | 2023-04-27 | by ( ) www.reuters.com   time to read: +1 min
SINGAPORE, April 27 (Reuters) - Singapore's United Overseas Bank (UOBH.SI) reported on Thursday a 74% surge in core profit in the first quarter from a year earlier on the back of strong net interest and non-interest income growth. The lender's core profit, which excludes one-off expenses, rose to a record S$1.58 billion ($1.20 billion) in the first quarter, just above the mean estimate of some S$1.55 billion from four analysts polled by Refinitiv. Net profit in the first quarter climbed 67% to $1.51 billion. "We delivered record profits this quarter backed by our core businesses and diversified growth drivers," Wee Ee Cheong, CEO of the Southeast Asia-focused bank said in a statement. ($1 = 1.3348 Singapore dollars)(This story has been corrected to clarify core net profit is up 74%, not net profit, and adds definition of core net profit)Reporting by Yantoultra Ngui; Editing by Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.
☆ Self-driving startup Venti raises $28.8 mln to speed up growth
  + stars: | 2023-03-28 | by ( Nick Carey | ) www.reuters.com   time to read: +2 min
LONDON, March 28 (Reuters) - Self-driving startup Venti Technologies said on Tuesday it has raised $28.8 million in Series A funding to speed up the growth of its autonomous vehicle (AV) business for customers the logistics and supply chain industry. Investors in the funding round included LG Technology Ventures, the venture capital arm of LG Corp (003550.KS) unit LG Group, and UOB Venture Management, the venture capital arm of Singapore's United Overseas Bank. Venti has been developing its self-driving for vehicles for the last three years at one of the world's largest container ports in Singapore and is already generating revenue. This year the company will deploy dozens of entirely self-driving vehicles, CEO Heidi Wyle told Reuters. Developing fully self-driving vehicles that can go everywhere has proven harder and more expensive than expected, but investors are continuing to fund startups that target simpler self-driving vehicle solutions far removed from pedestrians and other vehicles operated by humans.
☆ UOB completes deal for Citi's Vietnam consumer banking business
  + stars: | 2023-03-01 | by ( ) www.reuters.com   time to read: +1 min
SINGAPORE, March 1 (Reuters) - Citigroup (C.N) said on Wednesday that it had completed the sale of its Vietnam retail banking and consumer credit card businesses to Singapore's United Overseas Bank in a transaction expected to result in a "modest regulatory capital benefit". United Overseas Bank (UOBH.SI), commonly known as UOB, said in a separate statement that it planned to complete the acquisition of Citigroup's Indonesian consumer banking business by the end of 2023. The lender announced in November the completion of its purchase of Citigroup's Malaysia and Thailand retail banking businesses. UOB's purchase of Citigroup's consumer businesses in the four Southeast Asian markets for about S$5 billion ($3.71 billion) marks its biggest acquisition in two decades. ($1 = 1.3476 Singapore dollars)Reporting by Yantoultra Ngui; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.
0 next >>
Total: 9