2018
ANNUAL REPORT
Dr Wee Cho Yaw
Chairman Emeritus and Honorary Adviser
“Honour and integrity must never be compromised in a banker. These values have guided us since our founding in 1935.”
Dr Wee Cho Yaw, visionary, banker extraordinaire, community pillar and celebrated pioneer, is highly regarded in Singapore and internationally.He retired from the UOB Board in 2018, following more than 60 years at the helm of the UOB Group. Under his leadership and guidance, UOB became one of the leading banks in Asia. During his term as Group Chairman and CEO, the Bank’s network expanded from 75 to more than 500 branches and offices globally and its assets increased from $2.8 billion to more than $253 billion through his pursuit of disciplined and sustainable growth.Highlights of UOB’s expansion since 1965 include:
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1965Opens 1st overseas branch in Hong Kong
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1971Acquires majority stake in Chung Khiaw Bank (CKB)
Opens Tokyo Branch -
1973Acquires Lee Wah Bank
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1975Opens London branch
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1977Opens New York agency
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1980Opens Los Angeles agency
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1983Opens Seoul representative office
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1984Opens Beijing representative office
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1985Expands into Sydney and Xiamen
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1986Expands into Vancouver
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1987Acquires majority interest in Industrial & Commercial Bank
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19921st Singapore bank to set up office in Vietnam
Sets up Taipei representative office
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1994Expands into Yangon
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1997UOB Malaysia merges with CKB Malaysia
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1998Opens Shanghai branch
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1999Acquires Westmont Bank in the Philippines
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1999Acquires Radanasin Bank in Thailand
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2001Acquires Overseas Union Bank
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2004Acquires 96.1% in Bank of Asia Public Company in Thailand
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2005Increases controlling stake of PT Bank Buana in Indonesia to 61.1%
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2009Opens Mumbai branch
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2010Merges PT Bank UOB Indonesia with PT Bank UOB Buana
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2015Completes full acquisition of Far Eastern Bank
Officially opens Yangon branch, adding to UOB’s unparalleled Southeast Asian network
Dr Wee has received many accolades for his business achievements and support of education, community welfare and the business community. Among the awards conferred on him are the Distinguished Service Order, Singapore National Day Award (2011), ASEAN Business Advisory Council Legacy Award for Singapore (2017) and Honorary Doctor of Letters from the National University of Singapore (2008) and Nanyang Technological University (2014).Dr Wee remains as Chairman Emeritus and Honorary Adviser to share his wealth of experience and insight with the Board and Management.
