United Overseas Bank (UOB) Group

Provisions will stay high across Singapore’s banks as they face net interest margin (NIM) compression and see non-performing loans rise amid low interest rates, say analysts. The reports come as the three banks posted declines in earnings for 2Q2020.

United Overseas Bank (UOB) has reported earnings of $703 million for 2Q20 ended June, down 40% y-o-y, as it set aside some $379 million of allowance for non-impaired assets amid weaker macroeconomic conditions.

The effect of regional lockdowns and economic downgrades are expected to surface among Singapore banks with significant drops in interest rates driving negative pressure on net interest margins (NIMs).

Southeast Asian states do not want to pick sides, but firms are not quitting China just yet.

UOB Group reported net earnings of $855 million, down 19% y-o-y for 1Q2020 ended March, on declining interest rates and higher credit costs.

Say goodbye to savings accounts that barely give you adequate returns on your money, and hello to the ones with the highest interest rates.

As Asia’s regulators warm to digital-only banks, can the incumbents hold their own?

SINGAPORE (Dec 24): Although macroeconomic uncertainties remain, RHB Research remains optimistic on a “broad-based earnings recovery” which will see all sectors report y-o-y earnings growth. 

SINGAPORE (Dec 18): United Overseas Insurance (UOI) is acquiring an office property located at 146 Robinson Road from United Overseas Bank (UOB) for $52 million, the group reported on Wednesday. 

SINGAPORE (Nov 11): As the Monetary Authority of Singapore offers five new digital banking licences, two Singapore-headquartered banks already have operational digital banks. In March this year, United Overseas Bank launched TMRW, a digital-only, branchle