UOB Group first operated in the Philippines in November 1999 when UOB Limited acquired a 60% stake in a domestic bank, Westmont Bank, which was subsequently renamed United Overseas Bank Philippines ("UOBP"). In July 2002, the stake was increased to 100%, and in 2006, UOBP was converted from a commercial bank into a thrift bank subsidiary with the sale of 66 branches to BDO Unibank. UOBP continued its operations in a single location providing wholesale banking products and services.
UOB Limited ("UOBL") applied for a branch license following a new banking law enacted in July 2014 which allows the conversion of UOBP from a wholly-owned subsidiary to a commercial bank branch. On 26 August 2015, Bangko Sentral ng Pilipinas approved UOBL to register a branch in the Philippines to be called United Overseas Bank Limited, Manila Branch and received its license to transact business from the Securities & Exchange Commission on 12 November 2015.
UOBL Manila Branch commenced operations on 4 Jan 2016 and offers a range of commercial banking products and services.