Keeping you informed
United Overseas Bank (UOB) was incorporated on 6 August 1935 as the United Chinese Bank. Founded by Datuk Wee Kheng Chiang, the Bank catered mainly to the Fujian community in its early years. The change of name was effected in 1965.
Over the past 73 years, UOB has grown with Singapore. Through a series of acquisitions, it is now a leading bank in Singapore with banking subsidiaries in the region. Today, the UOB Group has a network of over 500 offices in 18 countries and territories in Asia Pacific, Western Europe and North America.
Besides Far Eastern Bank in Singapore, UOB's banking subsidiaries in the region are United Overseas Bank (Malaysia), United Overseas Bank (Thai), PT Bank UOB Indonesia, PT Bank UOB Buana, United Overseas Bank (China) and United Overseas Bank Philippines.
UOB provides a wide range of financial services through its global network of branches/offices and subsidiaries/associates: personal financial services, private banking, trust services, commercial and corporate banking, investment banking, corporate finance, capital market activities, treasury services, futures broking, asset management, venture capital management, general insurance, life assurance and stockbroking services. UOB also has diversified interests in travel and leasing.
In Singapore, UOB is a market leader in the private residential home loan business and its total card base of over 1.5 million firmly places it in the top position in credit and debit cards. It is also a dominant player in loans to small and medium-sized enterprises. Its fund management arm, UOB Asset Management, is one of Singapore's most awarded fund managers.
UOB is rated among the world's top banks by Moody's Investors Service, receiving B for financial strength, and Aa1 and Prime-1 for long-term and short-term bank deposits respectively.
In Hong Kong, UOB has six branches across the territory with a staff strength of more than 200. UOB opened its first overseas branch in Hong Kong in 1965 with a business focus on trade financing and corporate banking. Its range of activities in the territory has since expanded to include personal and corporate financial services.
More information about UOB available here.
Our Corporate Milestones
Kuching-born Datuk Wee Kheng Chiang, father of the present UOB Group Chairman, Mr Wee Cho Yaw, founded the United Chinese Bank (UCB) together with six other Chinese businessmen. UCB's paid-up capital was a modest Straits $1 million.
UCB changed its name to United Overseas Bank (UOB).
UOB's first overseas branch opened in Hong Kong.
UOB obtained a listing on the then Joint Stock Exchange of Singapore and Malaysia.
UOB acquired a majority interest in Chung Khiaw Bank Limited (CKB) and its branch network in Singapore, Malaysia and Hong Kong.
UOB introduced its distinctive red five-barred logo that is derived from the traditional Chinese 'five-barred gate' system of counting in fives.
UOB acquired 100% shareholding in Lee Wah Bank Limited and its branch network in Singapore and Malaysia.
Mr Wee Cho Yaw succeeded his father, Datuk Wee Kheng Chiang, as Chairman of the UOB Group.
The Group moved into its new 30-storeyed UOB Building at 1 Bonham Street.
UOB acquired a majority interest in Far Eastern Bank Limited (FEB).
UOB acquired a majority interest in Industrial & Commercial Bank Limited (ICB).
CKB became a wholly-owned banking subsidiary of UOB.
LWB's operations in Singapore and Malaysia were merged into UOB and UOB's Malaysian banking subsidiary, United Overseas Bank (Malaysia) Bhd, respectively.
UOB celebrated 60 years of banking in Singapore.
Singapore's Senior Minister, Mr Lee Kuan Yew, officially opened UOB Plaza, the Bank's new headquarters building at 80 Raffles Place.
CKB's operations in Malaysia were merged into United Overseas Bank (Malaysia) Bhd.
CKB's operations in Singapore and Hong Kong were merged into UOB.
UOB acquired a majority interest in Westmont Bank, Philippines and its network of 97 branches. The bank is renamed United Overseas Bank Philippines.
UOB acquired a majority interest in Radanasin Bank, Thailand and its network of
68 branches. The bank is renamed UOB Radanasin Bank Public Company Limited.
UOB's local and foreign share counters were merged and commenced trading on the Singapore Exchange as a single counter.
UOB acquired 100% shareholding in Overseas Union Bank Limited (OUB).
The operations and systems of OUB were successfully integrated into UOB.
ICB was merged into UOB following UOB's acquisition of all the shares of the subsidiary and ICB's delisting from the Singapore Exchange.
UOB acquires a 23% interest in PT Bank Buana Indonesia Tbk, making it an associate of UOB.
UOB acquires a 97% interest in Bank of Asia Public Company Limited, Thailand and its network of 133 offices.
UOB increased its shareholding in PT Bank Buana from 23% to a controlling stake of 53% in October 2005, followed by a further increase to 61.1% as at end of 2005 after a mandatory tender offer.
UOB completed the integration of its two Thai banking subsidiaries, Bank of Asia and UOB Radanasin Bank, and established United Overseas Bank (Thai).
UOB converted its subsidiary, United Overseas Bank Philippines, into a thrift bank. Following further rationalisation of its branch operations, the sale of 66 branches to the Banco De Oro Universal Bank Group was completed.
UOB broke new ground in Vietnam by becoming the first foreign bank to be part of a domestic card network. UOB sealed the agreement to be a member of the Vietnam Bank Card (VNBC) network.
UOB Malaysia opened five branches consecutively within a week. UOB Malaysia now has 41 branches throughout Malaysia, making it the foreign bank with the largest network in the country.
UOB Chengdu branch was officially opened on 1 December, after receiving approval to upgrade the representative office to a branch. This marks another milestone in the expansion of its business in China.
PT Bank Buana Indonesia Tbk renamed PT Bank UOB Buana Tbk (UOB Buana).
Mr Wee Ee Cheong succeeded his father, Mr Wee Cho Yaw, as CEO of the UOB Group. Mr Wee Cho Yaw remains Group Chairman.
United Bullion & Futures (Thai) Company Limited (UOBFT) commenced trading derivatives on the Thailand Futures Exchange Public Company Limited (TFEX).
UOB Shenyang Branch was officially opened.
UOB Asset Management Ltd incorporated UOB Asset Management (B) Sdn Bhd, a wholly-owned subsidiary, in Brunei.
United Overseas Bank (China) Limited (UOBC) was incorporated. UOBC commenced business on 8 January 2008.