Corporate Governance

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Corporate Governance

Board responsibilities

As steward of the organisation, the Board is committed to ensuring sustainable growth for the Bank and being aligned with the long-term interests of stakeholders. It does so while remaining accountable for, and fair in, its activities and practices. These principles have been fundamental to UOB’s approach to banking over the past 80 years and will continue to guide the Board in maintaining the strong corporate governance culture of UOB.

The key responsibilities of the Board are to:

  • provide strategic direction;
• provide entrepreneurial leadership and guidance;
• approve business plans and annual budgets;
• ensure true and fair financial statements;
• monitor financial performance;
• determine capital/debt structure;
• set dividend policy and declare dividends;
• approve major acquisitions and divestments;
• review risk management framework and processes;
• oversee the performance of Management;
• set company values and standards; and
• perform succession planning.

The Board has established six Board Committees to perform certain duties. They are the Audit Committee, Board Credit Committee, Board Risk Management Committee, Nominating Committee, Remuneration Committee and Strategy Committee.

More information on UOB's corporate governance can be found in the UOB Annual Report.

UOB Constitution

Click here for the Constitution of UOB.

Board Committees

    • Please click here for the composition of each committee.

Annual General Meeting

Annual General Meeting held on 21 April 2016

 
Directors present
 
- Wee Cho Yaw
- Hsieh Fu Hua
- Wee Ee Cheong
- Wong Meng Meng
- Franklin Leo Lavin
- Willie Cheng Jue Hiang
- James Koh Cher Siang
- Ong Yew Huat
- Lim Hwee Hua
Notice of AGM
Appendix to Notice of AGM
CEO's presentation slides
Results of AGM

Annual General Meeting held on 24 April 2015

 
Directors present
 
- Wee Cho Yaw
- Hsieh Fu Hua
- Wee Ee Cheong
- Wong Meng Meng
- Franklin Leo Lavin
- Willie Cheng Jue Hiang
- James Koh Cher Siang
- Ong Yew Huat
- Lim Hwee Hua
Notice of AGM
CEO's presentation slides
Results of AGM

Whistle-blowing policy

The Bank has a whistle-blowing policy which provides for access to well-defined channels for any individual to report in good faith, without fear of reprisal, any suspected wrongdoing to the Head of Group Audit, Chairman of the Audit Committee, CEO or Chairman of the Board.

Reports may be sent to the Head of Group Audit at United Overseas Bank Limited, 396 Alexandra Road, #18-00, Singapore 119954. All reports received are accorded confidentiality and investigated independently by Group Audit, the administrator of the whistle-blowing policy. Group Audit submits regular updates on whistle-blowing reports received to the Audit Committee.

Code of conduct

The UOB Code of Conduct (Code) lays down the fundamental principles of personal and professional conduct expected of all employees in the UOB Group.

The Code covers aspects of the Bank's operations, including the following:


fair dealing in the conduct of business;
confidentiality of customers’ information;
protection of employees’ and business associates' personal data;
equal opportunities for employees on the basis of merit;
non-tolerance of discrimination or harassment in the workplace or cyberspace; and
zero tolerance of bribery, corruption and illegal or unethical dealings, including insider trading.

All employees must observe the Code, and any employee who violates the provisions of the Code will be subject to disciplinary action.

Employees must also abide by all other codes or standards of conduct applicable in the country of operation.

Securities dealing

Directors and employees are guided by a code which prohibits dealings in the Bank's securities:

on short-term considerations;
during the period commencing two weeks before the announcement of the Bank's financial statements for each of the first three quarters of the financial year and one month before the announcement of the Bank's full-year financial statements; and
whenever they are in possession of price-sensitive information.

Directors and employees are informed of the prohibited dealing periods and have to adhere to applicable laws on insider trading at all times. The Bank does not deal in its securities during the prohibited dealing periods.

Investor relations policy

The Bank has an investor relations policy that governs its approach towards communicating with the investment community. It seeks to promote regular, effective and fair communication with shareholders, investors, shareholders’ proxy voting agencies, equity and fixed-income analysts and credit rating agencies. It also stipulates the disclosure of pertinent information via SGXNet and the UOB website on a fair, clear and timely basis.
   
UOB is covered by research teams from more than 20 brokerage firms globally. Through constant dialogues with our investment community, UOB’s senior management keep investors abreast of the Bank’s financials, milestones and other material developments. In 2015, the Investor Relations unit met more than 500 analysts and investors and shared with them UOB’s corporate strategy, operational performance and business outlook at the following events:
  • Quarterly results briefings, fronted by UOB’s senior management, with conference call facilities arranged for overseas analysts and investors. Analysts and investors in Singapore were also invited to post-results luncheons every quarter;
  • Investor meetings, conferences and roadshows held in Europe, the US, Hong Kong, Kuala Lumpur and Singapore;
  • Our Greater China Corporate Day event in Shanghai, China;
  • Meetings with credit rating agencies; and
  • Annual general meetings (AGM) and other general meetings.
   
Shareholders may also provide feedback through the Investor Relations unit, at the following address:

80 Raffles Place
#05-00 UOB Plaza 2
Singapore 048624
Fax : (65) 65380270
Email : InvestorRelations@UOBGroup.com