UOB plans to grow organically, but on the lookout for opportunities
Published on Apr 24, 2014 9:35 PM
SINGAPORE - United Overseas Bank (UOB) is not in a hurry to snap up banks, but it is on the lookout for the right opportunities.
Its chief executive Wee Ee Cheong told shareholders at its annual general meeting on Thursday that its regionalisation strategy is on track.
"Net interest income and fee income reached new highs. So did regional profit, which now contributes 39 per cent of our group earnings," he said.
The bank made a record full-year profit of $3.01 billion last year, the first time it managed to cross $3 billion in earnings.
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