United Overseas Bank Stock News

DBS GROUP HOLDINGS LTD ( SGX:D05 ) OVERSEA-CHINESE BANKING CORP ( SGX:O39 ) UNITED OVERSEAS BANK LTD ( SGX:U11 ) Singapore Banks - Monetary Policy Under The Fog Of War Systemic risk is elevated but below the levels seen during past crises as Russia is not well integrated into the global financial system. Singapore banks’ exposures to Europe and Russia are minimal. The Fed is expected to kick-start the interest rate upcycle with a hike of 25bp next week. We see strong support for DBS at S$30.00 and for OCBC at S$11.00. BUY DBS (Target price: S$35.80) and OCBC (Target price: S$15.10) for 2022 dividend yield of 4.5% and 4.9% respectively. Maintain OVERWEIGHT. Continue Reading »

Manama, Mar. 9 (BNA): President of the University of Bahrain (UoB), Dr. Jawaher Shaheen Al-Mudhahki, received here today the General Manager of Microsoft Bahrain and Oman, Shaikh Saif bin Hilal Al-Hosni.

Singapore''s three largest local banks have reportedly restricted trade financing for Russian energy deals, in line with the stance taken by the city-state’s government. DBS, OCBC and UOB – Singapore’s «big three» lenders – have halted the issuance of letters of credit linked to Russian energy deals, according to a «Bloomberg» report citing unnamed sources, in response to the Russian military invasion of Ukraine. The move follows comments by Singapore foreign minister Vivian Balakrishnan about plans to block certain Russian banks and some financial transactions linked to the country. «Financial institutions are aware of the heightened risks, and are taking appropriate measures to manage any legal, reputational and operational risks arising from the sanctions imposed by various jurisdictions,» said the Monetary Authority of Singapore in a separate statement on the Russia-Ukraine conflict.

Singapore’s biggest banks are restricting trade financing for Russian raw materials, as the war in Ukraine spurs lenders in Asia’s largest energy and commodities trading hub to reduce exposure to the sanction-hit country.The limits include a halt on issuing so-called in US dollars for trades involving Russian commodities, including oil and liquefied natural gas, according to people familiar with the situation.DBS Group Holdings Ltd., Oversea-Chinese Banking Corp. and United Overseas Bank Ltd…

March 01, 2022 7:22 AM DBS, OCBC and UOB have stopped issuing letters of credit involving Russian energy deals, sources said.

Jambo, a Web3 Super App has raised $7.5 million in a seed funding round led by Coinbase Ventures with the participation of Delphi Ventures, Coinbase Ventures, 3 Arrows Capital, Alameda Research, AllianceDAO, Tiger Global, DeFiance Capital, Hashed, Polygon Studios, UOB, Signum Capital, BH Digital, Yield Read More

Following optimistic forecasts from Singapore’s lenders UOB and DBS, Yustina Quek from Creditsights expects the strong earnings to continue this year. The post Singapore banks are well-positioned for higher interest rates appeared first on CreditSights .

WITH UOB''s fourth-quarter net profit up 48 per cent on strong loan growth and the bank logging record-high fee income for the year, its chief executive Wee Ee Cheong has sounded an optimistic note on the long-term potential of his bank''s business in Asean.

Singapore bank UOB reported Wednesday solid overall earnings growth, despite a fourth quarter hiccup to its wealth management fees.

Singapore bank UOB reported Wednesday solid overall earnings growth , but that came despite a fourth quarter hiccup to its wealth management fees. Like its rival DBS , UOB pointed to weaker market sentiment in the fourth quarter as weighing on wealth management activity. UOB said its fourth quarter net fee and commission income was S$589 million ($437.77 million), generally stable compared with the third quarter, as an increase in credit card and loan-related fees were offset by declines in wealth fees. Net new money grows For the full year, UOB said its assessed assets under management (AUM) grew by 4 percent from 2020 to a record S$139 billion, with wealth management fees growing by double-digits to a record as investor confidence returned and sales grew across most investment products. UOB’s Deputy Chairman and CEO Wee Ee Cheong said the net new money on the consumer side was likely a «few billion.» That came even as UOB’s current account savings account, or CASA, deposits grew and the CASA ratio rose to a new high in the fourth quarter.

Citigroup to Sell Southeast Asia Consumer Businesses to Singapore''s UOB Barron''s

Citigroup (C) has reached agreement with Singapores United Overseas Bank ((UOB)) on the acquisition of its consumer banking franchises in Indonesia, Malaysia, Thailand and

Citigroup has agreed to sell its consumer business in four Southeast Asian markets to United Overseas Bank (UOB) for S$4.915 billion ($3.65 billion), bringing the U.S. bank closer to its goal of exiting retail operations in 13 markets.

UOB said it will acquire Citi''s unsecured and secured lending portfolios, wealth management and retail deposit units in the four Southeast Asian markets.

UOB is bolstering its newly established private bank arm through its hire of Khoo Lin Wein as managing director and regional market head for South-east Asia.