Balancing Growth with Stability for the Long Term / Deputy Chairman and CEO’s Report
Deputy Chairman and CEO’s Report
UOB is in a sweet spot to capture ASEAN's next stage of growth. Our network spans the region’s most dynamic markets, and we continue to invest in people, capabilities and technology. Our strong capital and liquidity positions provide the resilience as we pursue growth with discipline.
Lighting the way forward at 90
The cover of this year’s Annual Report features UOB Plaza 1 illuminated as a vibrant canvas. To mark our 90th anniversary, the building became the world’s tallest, brightest and largest projection mapping display during a series of shows from June to August 2025 — a record-breaking spectacle for the community.
In 2025, UOB marked 90 years of steady growth. From a single branch in Singapore, we have grown into a leading regional bank, guided by our belief in growth with stability. We did not reach this milestone by chance – but by disciplined growth based on long-term vision.
As we look ahead, we are investing in the capabilities that matter most for our customers, our people and our communities. With a strong foundation, we are well-placed to become the most preferred bank for consumers and businesses across ASEAN.
In 2025, UOB marked 90 years of steady growth. From a single branch in Singapore, we have grown into a leading regional bank, guided by our belief in growth with stability. We did not reach this milestone by chance – but by disciplined growth based on long-term vision.
As we look ahead, we are investing in the capabilities that matter most for our customers, our people and our communities. With a strong foundation, we are well-placed to become the most preferred bank for consumers and businesses across ASEAN.
ASEAN advantage in a complex world
As the world becomes more multipolar and supply chains realign, significant opportunities are created in ASEAN. Regional integration is deepening across trade, the digital economy and energy security. The region remains a top foreign direct investment destination, attracting over US$225 billion in investments in 2024. This momentum is set to accelerate as ASEAN becomes a more integrated bloc with deeper connectivity to China and the rest of the world.
Amid global uncertainty and geopolitical tensions, ASEAN remains one of the fastest-growing regions globally, supported by firm domestic demand, rising infrastructure investment that strengthens physical connectivity and a young, upwardly mobile population driving rapid expansion in the digital and green economy. A rising middle class continues to fuel consumption, keeping ASEAN on track to become one of the world’s largest economic blocs by the end of the decade.
Opportunity is shifting closer to home – and UOB is ready to help our customers capture it. Through strategic acquisitions and disciplined expansion, we have built meaningful scale across Southeast Asia and Greater China. With Vietnam fast becoming a key market, we are deepening our presence with a new Ho Chi Minh City headquarters under development. Our regional connectivity is a clear differentiator. With our extensive footprint and long-standing regional presence, we offer deep local insights and expertise backed by our integrated regional operating platform. This allows us to support customers across segments and markets, through economic cycles and at every stage of their growth.
Amid global uncertainty and geopolitical tensions, ASEAN remains one of the fastest-growing regions globally, supported by firm domestic demand, rising infrastructure investment that strengthens physical connectivity and a young, upwardly mobile population driving rapid expansion in the digital and green economy. A rising middle class continues to fuel consumption, keeping ASEAN on track to become one of the world’s largest economic blocs by the end of the decade.
Opportunity is shifting closer to home – and UOB is ready to help our customers capture it. Through strategic acquisitions and disciplined expansion, we have built meaningful scale across Southeast Asia and Greater China. With Vietnam fast becoming a key market, we are deepening our presence with a new Ho Chi Minh City headquarters under development. Our regional connectivity is a clear differentiator. With our extensive footprint and long-standing regional presence, we offer deep local insights and expertise backed by our integrated regional operating platform. This allows us to support customers across segments and markets, through economic cycles and at every stage of their growth.
Our strategy — three drivers of sustainable growth
1) Connecting businesses across ASEAN to unlock growth
Our integrated platforms in payments, trade and cash management make banking seamless across ASEAN and the Greater China–ASEAN corridor, supported by strong sector expertise and local insight that deliver one-stop solutions and build long-term relationships. We continue to build best-in-class capabilities in trade finance, financial supply chain management (FSCM), digital payments and collections solutions to meet rising customer demand.
We aim to be the No. 1 trade bank in ASEAN and in 2025, we made good progress with trade loans growing 26 per cent year on year.
Our regional network enables businesses’ cross-border expansion. In 2025, we supported nearly 550 projects involving more than $7 billion in planned investments, enabling the creation of over 72,000 new jobs. Since 2020, investments we have facilitated have supported the creation of more than 300,000 job opportunities.
For example, in the Johor–Singapore Special Economic Zone, UOB is the only bank with a Green Lane arrangement with Invest Johor, enabling faster access for companies and supporting over $5.3 billion in financing since 2024.
We will continue to deepen our strengths in connectivity, enhance our digital transaction banking and foreign exchange capabilities, and support the flow of trade, capital and investment across ASEAN, Greater China and beyond.
We aim to be the No. 1 trade bank in ASEAN and in 2025, we made good progress with trade loans growing 26 per cent year on year.
Our regional network enables businesses’ cross-border expansion. In 2025, we supported nearly 550 projects involving more than $7 billion in planned investments, enabling the creation of over 72,000 new jobs. Since 2020, investments we have facilitated have supported the creation of more than 300,000 job opportunities.
For example, in the Johor–Singapore Special Economic Zone, UOB is the only bank with a Green Lane arrangement with Invest Johor, enabling faster access for companies and supporting over $5.3 billion in financing since 2024.
We will continue to deepen our strengths in connectivity, enhance our digital transaction banking and foreign exchange capabilities, and support the flow of trade, capital and investment across ASEAN, Greater China and beyond.
2) Delivering more value to customers through scale and synergies
With the successful integration of Citigroup’s consumer businesses in Malaysia, Thailand, Indonesia and Vietnam, our regional retail franchise now serves more than 8.5 million customers.
We are deepening customer engagement with deposit and wealth penetration reaching 66 per cent and 38 per cent in 2025. We reinforced our leadership position as the top card issuer for Visa and Mastercard in ASEAN. Our broad regional lifestyle partnerships and strong customer advocacy reflect our commitment to delivering value across borders. For example, our cards now allow Singapore customers to redeem rewards points in Johor. Early uptake has been strong, with transaction volumes in the last quarter of 2025 rising 29 per cent year on year.
Rising affluence across the region is driving demand for wealth planning and protection. Our holistic One Bank model and growing advisory strength position us well to support customers’ wealth needs. In 2025, wealth assets under management grew 6 per cent and wealth income rose 14 per cent year on year. We will continue to strengthen our Private Bank by expanding advisory talent and investing in technology to serve our customers.
We continue to lift service standards and accelerate digitalisation across the franchise. With Singapore’s role as a global wealth centre and UOB’s heritage and regional footprint, we are well-placed to serve entrepreneurs and families across ASEAN.
We are deepening customer engagement with deposit and wealth penetration reaching 66 per cent and 38 per cent in 2025. We reinforced our leadership position as the top card issuer for Visa and Mastercard in ASEAN. Our broad regional lifestyle partnerships and strong customer advocacy reflect our commitment to delivering value across borders. For example, our cards now allow Singapore customers to redeem rewards points in Johor. Early uptake has been strong, with transaction volumes in the last quarter of 2025 rising 29 per cent year on year.
Rising affluence across the region is driving demand for wealth planning and protection. Our holistic One Bank model and growing advisory strength position us well to support customers’ wealth needs. In 2025, wealth assets under management grew 6 per cent and wealth income rose 14 per cent year on year. We will continue to strengthen our Private Bank by expanding advisory talent and investing in technology to serve our customers.
We continue to lift service standards and accelerate digitalisation across the franchise. With Singapore’s role as a global wealth centre and UOB’s heritage and regional footprint, we are well-placed to serve entrepreneurs and families across ASEAN.
3) Delivering smarter, safer, more personal experiences
Our omni‑channel model lets customers bank anytime, anywhere — through UOB TMRW for retail customers, UOB Infinity for corporates across 10 markets and the UOB SME app for on‑the‑go business finance.
We use artificial intelligence (AI) to deepen customer digital interactions, delivering real time, predictive insights, while strengthening security.
On UOB TMRW, one in two customers now engage with our customised insights and nudges. Our digital wealth business, where customers invest directly via our TMRW digital bank app, is seeing steady growth and is now contributing to 37 per cent of our unit trust sales. We will soon roll out Generative AI advisory for our private banking clients and onboard them onto UOB TMRW. The use of AI and technologies will continue to play a vital role in driving growth for our wealth business.
On our trade platform, UOB Infinity, usage grew by about 20 per cent, with over two-thirds from ASEAN-based companies. The platform is now available in all our key ASEAN markets.
We continue to invest in enterprise-wide AI capabilities, upskilling colleagues across the region through the Innovation Academy, our AI and Data Analytics Centre of Excellence and the Better U Pivot Programme. These capabilities enable smarter decisions, safer banking and more personalised experiences for our customer. By enhancing business processes and automation readiness, we will drive productivity gains to help us serve customers better and faster.
In the year, our efforts were recognised, with Global Finance naming us Best Bank in Asia-Pacific and The Asian Banker naming us Best SME Bank in Singapore.
We use artificial intelligence (AI) to deepen customer digital interactions, delivering real time, predictive insights, while strengthening security.
On UOB TMRW, one in two customers now engage with our customised insights and nudges. Our digital wealth business, where customers invest directly via our TMRW digital bank app, is seeing steady growth and is now contributing to 37 per cent of our unit trust sales. We will soon roll out Generative AI advisory for our private banking clients and onboard them onto UOB TMRW. The use of AI and technologies will continue to play a vital role in driving growth for our wealth business.
On our trade platform, UOB Infinity, usage grew by about 20 per cent, with over two-thirds from ASEAN-based companies. The platform is now available in all our key ASEAN markets.
We continue to invest in enterprise-wide AI capabilities, upskilling colleagues across the region through the Innovation Academy, our AI and Data Analytics Centre of Excellence and the Better U Pivot Programme. These capabilities enable smarter decisions, safer banking and more personalised experiences for our customer. By enhancing business processes and automation readiness, we will drive productivity gains to help us serve customers better and faster.
In the year, our efforts were recognised, with Global Finance naming us Best Bank in Asia-Pacific and The Asian Banker naming us Best SME Bank in Singapore.
Financial performance — resilient and ready
In 2025, our core business drivers remained robust, underpinned by healthy loan expansion, alongside strong growth in fee income and customer treasury flows.
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Total income moderated 3 per cent to $13.8 billion; net profit moderated 23 per cent to $4.7 billion.
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Net interest income eased 3 per cent to $9.4 billion; loans grew 4 per cent.
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Net fee income rose 7 per cent to $2.6 billion.
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Other non-interest income eased 15 per cent to $1.9 billion.
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Total expenses edged down 2 per cent; cost-to-income ratio at 44.6 per cent.
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Total allowance at $1.9 billion, reflecting pre-emptive provisioning.
We proactively set aside additional pre-emptive general allowance of $0.6 billion to strengthen our balance sheet and provide a buffer against potential headwinds. This ensures we remain ready to support customers and seize strategic opportunities.
We will continue to stand by our customers through challenging conditions while safeguarding the long-term interests of all stakeholders. At the same time, we are reshaping our franchise toward connectivity driven, fee based and recurring income, underpinned by strong capital and disciplined risk management.
We will continue to stand by our customers through challenging conditions while safeguarding the long-term interests of all stakeholders. At the same time, we are reshaping our franchise toward connectivity driven, fee based and recurring income, underpinned by strong capital and disciplined risk management.
Sustainability and community — meaningful impact at scale
In our 90th year, we reinforced UOB’s long-standing commitment to uplifting the communities we serve, with a clear focus on children and education, including:
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$30 million committed to education programmes across Southeast Asia.
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UOB FutureGen Scholarship to support 90 regional students in Singapore.
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UOB FutureGenUOB My Digital Space to provide 90,000 underprivileged children with digital learning tools.
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Through The Straits Times School Pocket Money Fund, about 11,000 students received 90 days of pocket money.
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$100,000 sponsorship cum donation to the Singapore Tennis Association to support young talent.
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In addition, UOB and the Wee Foundation pledged a combined gift of $110 million to Nanyang Technological University.
The above UOB90 give-back initiatives will collectively impact more than 250,000 beneficiaries over five years.
Our people and partners amplified this impact. The UOB Global Heartbeat Run/Walk raised $3.1 million for 25 charities supporting children and families. The UOB Painting of the Year, now in its 44th year, continues to nurture artistic talent, while the UOB Artist Alumni Network strengthens connections among artists across the region.
We also advanced our sustainability agenda across ASEAN, supporting customers with sector-specific solutions and recognising leaders through the Sustainability Impact Awards. Our approach balances economic progress with environmental and social responsibility.
We remain committed to being a long-term enabler of positive change — helping communities thrive, supporting inclusive growth and contributing to a more sustainable future for the region.
Our people and partners amplified this impact. The UOB Global Heartbeat Run/Walk raised $3.1 million for 25 charities supporting children and families. The UOB Painting of the Year, now in its 44th year, continues to nurture artistic talent, while the UOB Artist Alumni Network strengthens connections among artists across the region.
We also advanced our sustainability agenda across ASEAN, supporting customers with sector-specific solutions and recognising leaders through the Sustainability Impact Awards. Our approach balances economic progress with environmental and social responsibility.
We remain committed to being a long-term enabler of positive change — helping communities thrive, supporting inclusive growth and contributing to a more sustainable future for the region.
People and culture — developing future ready talent
We invest in our people so that they can be future ready and grow with our customers and with the bank.
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The Better U Pivot Programme, developed with Institutes of Higher Learning and industry partners, provides customised pathways into new roles.
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Our Innovation Academy trains more than 31,000 colleagues in AI across ASEAN.
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Our AI and Data Analytics Centre of Excellence is building capabilities in Generative AI and automation to enhance customer experience.
We believe in responsible innovation — growth with the right mindset and people at the centre.
Our values — honour, unity, commitment and enterprise — grounds us. Like a bonsai whose roots keep it steady through changing seasons, our culture gives us strength and adaptability as we continue investing in learning and development. By empowering our people to innovate with purpose, we create lasting value for our customers and stakeholders as we move towards our centennial and beyond.
Our values — honour, unity, commitment and enterprise — grounds us. Like a bonsai whose roots keep it steady through changing seasons, our culture gives us strength and adaptability as we continue investing in learning and development. By empowering our people to innovate with purpose, we create lasting value for our customers and stakeholders as we move towards our centennial and beyond.
The road ahead — a long-term view
As we look to the decade ahead, our priorities are clear. We will strengthen our position as the leading trade bank in ASEAN, build a profitable and scalable consumer franchise and deliver sustainable returns through cycles.
ASEAN is entering a new phase of growth, underpinned by rising affluence, ageing populations and deeper regional integration. These shifts will drive demand for smarter banking, long‑term wealth planning and seamless regional connectivity.
UOB is in a sweet spot to capture the region’s next stage of growth. Our network spans the region’s most dynamic markets, and we continue to invest in people, capabilities and technology so that we can support our customers better. Our strong capital and liquidity positions provide the resilience as we pursue growth with discipline.
The opportunity in ASEAN is structural and long-term. We will stay focused, support our customers through cycles and create lasting value for shareholders and communities.
I would like to thank our colleagues for their dedication and unwavering commitment. I would also like to express our appreciation to the Board for its guidance and support as we work towards our goals.
To our customers and shareholders, thank you for your trust over the past 90 years. Together, we will build a better future for people and businesses across ASEAN.
ASEAN is entering a new phase of growth, underpinned by rising affluence, ageing populations and deeper regional integration. These shifts will drive demand for smarter banking, long‑term wealth planning and seamless regional connectivity.
UOB is in a sweet spot to capture the region’s next stage of growth. Our network spans the region’s most dynamic markets, and we continue to invest in people, capabilities and technology so that we can support our customers better. Our strong capital and liquidity positions provide the resilience as we pursue growth with discipline.
The opportunity in ASEAN is structural and long-term. We will stay focused, support our customers through cycles and create lasting value for shareholders and communities.
I would like to thank our colleagues for their dedication and unwavering commitment. I would also like to express our appreciation to the Board for its guidance and support as we work towards our goals.
To our customers and shareholders, thank you for your trust over the past 90 years. Together, we will build a better future for people and businesses across ASEAN.
Wee Ee Cheong
Deputy Chairman and Chief Executive Officer
February 2026
Balancing Growth with Stability for the Long Term
Chairman's Statement
Deputy Chairman and CEO’s Report
Financial Highlights
Investor Highlights
Sustainability Highlights
