SINGAPORE - United Overseas Bank (UOB) said on Monday (Dec 14) it is donating $16.6 million to local charities to mark the bank's 80th anniversary.

The money will go towards charities that support those with special needs, children and the elderly, UOB said in a statement on its website.

Community Chest will be the biggest beneficiary. It will receive $11.8 million to help those with disabilities. The bank is giving another $2 million to the Care & Share Movement.

Together with the $3.57 million donation made earlier in the year, UOB's combined gift of $17.37 million to Community Chest and the Care & Share Movement is the biggest by a private entity donor in 2015, said the bank.

With the Government's dollar-for-dollar matching, the social service sector can expect to receive up to $34.74 million to help those in need.

Mr Wee Ee Cheong, deputy chairman and chief executive officer of UOB Group, said: "2015 marks UOB's 80th anniversary and Singapore's Golden Jubilee. As we celebrate how far we have come as a bank and as a nation, we are grateful to those who have helped play a part in our development, in particular, the many who are entering their twilight years.

"At the same time, we want to show our continued support for those with special needs and disabilities. By working together with Community Chest and other charitable organisations, we believe we can touch the lives of those in need."