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United Overseas Bank Limited (UOB)
Singapore economy
'Substantial risk' of Singapore entering technical recession in 1H2023: UOB
Singapore’s manufacturing output has already contracted for seven months since October 2022, driving recessionary risks.
June 22, 2023
Zest
Liquidity risks low for Singapore banks though funding costs will rise in 2H2023: Bloomberg Intelligence
Singapore’s lenders’ LCR ratios remain healthy as at 1QFY2023 despite the rising interest rates, say the analysts.
June 16, 2023
Zest
Singapore banks are so flush with deposits that DBS is loaning MAS $30 bil
This underscores how Singapore has been a beneficiary as Asia’s wealthy shift their money to a perceived safe haven.
June 07, 2023
Global Economy
Briefs: Elizabeth Holmes must go to prison, says US court; shares in Ever Glory close higher on first day of trading
Quoteworthy: "You can have a big dream and a big ambition, but what if you cannot survive?" - Sea's CEO Forrest Li.
May 19, 2023
Zest
UOB’s acquisition of Citi’s consumer banking businesses in Malaysia, Thailand, Vietnam brings customers to over 7 mil
The bank states that it will have close to 8 mil customers by end-2023 after the acquisition of Citi’s Indonesia consumer business
May 10, 2023
Zest
MAS details information-sharing platform among banks to combat financial crime
A bill proposing amendments to the Financial Services and Markets Act was read for a second time in Parliament on May 9.
May 09, 2023
Zest
The year is already toast for Singapore banks
A deepening crisis in the US is threatening to engulf loan volumes and pricing, says Bloomberg's Andy Mukherjee.
May 02, 2023
Results
UOB reports record core net profit of $1.58 bil, 74% higher y-o-y in 1QFY2023
Excluding the one-off expenses for the Citi acquisition, UOB's net profit stood at $1.51 billion.
April 27, 2023
Broker's Calls
DBS downgrades OCBC and UOB to 'hold' as it sees 'limited catalysts for now'
DBS's Lim Rui Wen has lowered OCBC and UOB's TPs to $13 and $30.30 respectively.
April 24, 2023
Singapore economy
Singapore’s headline inflation down to 5.5%, MAS core inflation down to 5% in March (update)
Headline and core inflation both moderated from February's print of 6.3% and 5.5%.
April 24, 2023