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UOB appoints a chief sustainability officer in yet another industrywide move towards expanding the green finance market. Eric Lim has been named as the Singapore bank’s CSO, according to a statement, as an extension to his existing role as head of group…
His compensation in 2020 included an unchanged base salary of S$1.2 million, S$8.568 million bonuses, and S$37,000 in-kind benefits. Wee Ee Cheong, UOB’s deputy chairman, and CEO, received a total of S$9.805 million in 2020, down 8.8 percent from S$10.75…
The bank has announced that it will launch in June a round of pay increases and promotions, excluding senior employees, that will cover up to 98 percent of its employees. UOB said it is confident in a sustained economic recovery in 2021, and wants to…
The bank has signed a strategic partnership agreement with Singapore Business Federation to connect Singapore businesses to opportunities across Asean, especially in Indonesia, Thailand and Vietnam. UOB will help more Singapore companies seize cross-border…
The bank has become the first issuer to reference the Singapore Overnight Rate Average Overnight Indexed Swap (SORA-OIS) rate for a capital security. The reset coupon rate of UOB’s perpetual, non-call five-year additional Tier 1 (AT1) securities on the first…
The bank’s new artificial intelligence (AI) solution was developed in collaboration with Singapore-based regulatory technology company Tookitaki, after more than two years of validation and evaluation. UOB has pioneered an AI solution that is highly accurate…
The bank joins other major FX participants in serving strong institutional FX flows in Asia, as the republic aims to boost its role as the global FX price discovery and liquidity hub in the Asian time zone. UOB will launch an electronic foreign exchange (FX)…
The bank plans to give the majority of its 26,000-strong workforce the choice to work remotely two days a week once COVID-19 restrictions are lifted. UOB made the announcement on Friday, following a six-month review of work patterns, workspaces and workforce…
As the COVID-19 pandemic resulted in the majority of the workforce shifting to home-based work, United Overseas Bank (UOB), a leading bank in Asia, collaborated with VMware to enable the Bank to continue its innovation drive without disruption. UOB was one of…
UOB will work with Dutch investment company Robeco to tap its expertise in environmental, social, and governance (ESG) matters and integrate sustainable thinking across its business and investment processes. The bank’s asset management arm is launching its…
The new platform aims to transform the digital banking experience for corporate clients and manage their banking needs in a simpler, smarter, and more personalized manner. Customers will be able to manage a range of domestic and cross-border banking…
The firm has also obtained verification from Ernst & Young for its Asia Impact Investment Fund’s alignment with the World Bank’s impact investing principles. UOB Venture Management (UOBVM) has issued its disclosure statement on the Operating Principles for…
The bank’s performance was hit by declining margins and pre-emptive credit provisioning as the effects of the Covid-19 pandemic continues to devastate the global economy. United Overseas Bank reported second-quarter net earnings of S$703 million ($513.41…
United Overseas Bank launched the UOB Finance Academy, a training and development program in Singapore focused on equipping all employees in the bank’s finance function with the soft and technical skills required to become future leaders in their field. The…
Its UOBAM Invest service, previously available to corporate clients, is being launched in the form of a mobile app for individuals. UOB Asset Management, a wholly-owned subsidiary of UOB, has rolled out a retail version of its UOBAM Invest online portal,…
UOB’s Q1 2020 net earnings are down 15 percent on-quarter and down 19 percent on-year, hit by declining margins and higher credit costs. UOB reported a quarterly profit of S$855 million, down from $1.05 billion a year before, and total income of S$2.41…
