UOB (United Overseas Bank)

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#71
Rainbow 
6 May 2020 UOB
Special dividend of $0.2 XD 15/6/2020 (click for sgx announcement)

Final dividend of $0.55 XD 15/6/2020 (click for sgx announcement)

eAGM scheduled on 5/6/2020 14:30 (click for sgx announcement)
Deadline for pre-registration before 2/6/2020 
(click to register now)

1Q2020 Result
https://links.sgx.com/FileOpen/1Q20%20Pe...eID=609493

Wish every valuebuddies a safe and healthy Vesak Day.
In the end, only three things matter:
How much you loved
How gently you lived, and
How gracefully you let go of things not meant for you.
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#71
Rainbow 
6 May 2020 UOB
Special dividend of $0.2 XD 15/6/2020 (click for sgx announcement)

Final dividend of $0.55 XD 15/6/2020 (click for sgx announcement)

eAGM scheduled on 5/6/2020 14:30 (click for sgx announcement)
Deadline for pre-registration before 2/6/2020 
(click to register now)

1Q2020 Result
https://links.sgx.com/FileOpen/1Q20%20Pe...eID=609493

Wish every valuebuddies a safe and healthy Vesak Day.
In the end, only three things matter:
How much you loved
How gently you lived, and
How gracefully you let go of things not meant for you.
Reply
#72
Rainbow 
8 May 2020 UOB published FAQ to attend 2020 eAGM scheduled on 5th June 2020 14:30pm SGP time. (click for FAQ)


(click to pre-register before 2 Jun 2020 2:30pm)

No live questions will be entertained (unlike iFAST eAGM which was highly interactive).
All questions will need to be submitted before 20 May 2020, answers will be given by 26 May 2020.
(Click to read eAGM Q&A)

If approved, final div 55cents plus special div 20cents will be paid on 29th Jun 2020.

Stay home, stay healthy, everyone.

Reply
#72
Rainbow 
8 May 2020 UOB published FAQ to attend 2020 eAGM scheduled on 5th June 2020 14:30pm SGP time. (click for FAQ)


(click to pre-register before 2 Jun 2020 2:30pm)

No live questions will be entertained (unlike iFAST eAGM which was highly interactive).
All questions will need to be submitted before 20 May 2020, answers will be given by 26 May 2020.
(Click to read eAGM Q&A)

If approved, final div 55cents plus special div 20cents will be paid on 29th Jun 2020.

Stay home, stay healthy, everyone.

Reply
#73
Rainbow 
26 May 2020 UOB Q&A before eAGM 5 June 2020
(click to read)

"The impact of the COVID-19 pandemic is yet to be fully felt. Nevertheless, UOB has always maintained a well-diversified portfolio as part of our prudent risk management approach.
UOB’s digital strategy is focused on the customer – providing them with products and services that are smarter, safer and simpler.
Enabling this is technology, whether artificial intelligence, data analytics, robotic process automation or cloud computing. This digitalisation drive is also expected to improve processing time and cost.
UOB’s digital strategy is part of our omni-channel strategy which is to give our customers the banking choices they need, prefer and want, whether online or in person. At the heart of our omni-channel strategy is upholding trust, through the standards of service and security our stakeholders expect.
During the ‘circuit breaker’ period, we have also seen a record number of customers using UOB’s digital banking services and we expect that the number will grow. We will continue to enhance our digital capabilities and work with our ecosystem partners to provide holistic solutions for customers."


Stay home and stay safe, everyone.
Reply
#73
Rainbow 
26 May 2020 UOB Q&A before eAGM 5 June 2020
(click to read)

"The impact of the COVID-19 pandemic is yet to be fully felt. Nevertheless, UOB has always maintained a well-diversified portfolio as part of our prudent risk management approach.
UOB’s digital strategy is focused on the customer – providing them with products and services that are smarter, safer and simpler.
Enabling this is technology, whether artificial intelligence, data analytics, robotic process automation or cloud computing. This digitalisation drive is also expected to improve processing time and cost.
UOB’s digital strategy is part of our omni-channel strategy which is to give our customers the banking choices they need, prefer and want, whether online or in person. At the heart of our omni-channel strategy is upholding trust, through the standards of service and security our stakeholders expect.
During the ‘circuit breaker’ period, we have also seen a record number of customers using UOB’s digital banking services and we expect that the number will grow. We will continue to enhance our digital capabilities and work with our ecosystem partners to provide holistic solutions for customers."


Stay home and stay safe, everyone.
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#74
Rainbow 
29 June 2020 Meeting Minutes for UOB eAGM
https://links.sgx.com/FileOpen/UOB%20202...eID=621600

There had been an increase in the use of the Bank’s digital services and such growth was expected to continue. TMRW, the first ASEAN mobile-only bank, had been launched in Thailand and Indonesia. The Bank would continue to enhance its digital capabilities to meet customer needs

Wear mask and keep your distance, everyone.
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#74
Rainbow 
29 June 2020 Meeting Minutes for UOB eAGM
https://links.sgx.com/FileOpen/UOB%20202...eID=621600

There had been an increase in the use of the Bank’s digital services and such growth was expected to continue. TMRW, the first ASEAN mobile-only bank, had been launched in Thailand and Indonesia. The Bank would continue to enhance its digital capabilities to meet customer needs

Wear mask and keep your distance, everyone.
Heart
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#75
Rainbow 
29 June 2020 1H2020 result to release on Thur, 6 Aug 2020 before market open
https://links.sgx.com/1.0.0/corporate-an...ca8d689c58

Wear mask and keep your distance, everyone.
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#75
Rainbow 
29 June 2020 1H2020 result to release on Thur, 6 Aug 2020 before market open
https://links.sgx.com/1.0.0/corporate-an...ca8d689c58

Wear mask and keep your distance, everyone.
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#76
Rainbow 
UOB Bullion and Futures Limited, has commenced member's voluntary liquidation. The voluntary liquidation is part of the on-going rationalisation of the operations of the UOB group of companies ('Group') and is not expected to have any material impact on the earnings of the Group for the financial year ending 31 December 2020.
https://links.sgx.com/1.0.0/corporate-an...61d7b15f8d

Wear mask and keep your social distance, everyone.
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#76
Rainbow 
UOB Bullion and Futures Limited, has commenced member's voluntary liquidation. The voluntary liquidation is part of the on-going rationalisation of the operations of the UOB group of companies ('Group') and is not expected to have any material impact on the earnings of the Group for the financial year ending 31 December 2020.
https://links.sgx.com/1.0.0/corporate-an...61d7b15f8d

Wear mask and keep your social distance, everyone.
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#77
Rainbow 
UOB 1H20 Result
Total income $3.0b (vs 3.2b)
Operating profit $2.1b (vs 2.2b)
Net profit $1.5b (vs 2.2b)
Dividend 39cents (vs 55)
The Group’s liquidity and funding positions remained robust with this quarter’s average all-currency liquidity coverage ratio (LCR) at 136% and net stable funding ratio (NSFR) at 119%, well above the minimum regulatory requirements. The loan-to-deposit ratio (LDR) was stable at 85.8%. As at 30 June 2020, the Group's Common Equity Tier 1 CAR remained strong at 14.0%. The Group's leverage ratio of 7.3% was well  above regulatory requirement of 3%. The Group remains well capitalised to navigate the macro uncertainties ahead.

https://links.sgx.com/FileOpen/UOB_1H20%...eID=626431

Wear mask and keep your social distance, everyone
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#77
Rainbow 
UOB 1H20 Result
Total income $3.0b (vs 3.2b)
Operating profit $2.1b (vs 2.2b)
Net profit $1.5b (vs 2.2b)
Dividend 39cents (vs 55)
The Group’s liquidity and funding positions remained robust with this quarter’s average all-currency liquidity coverage ratio (LCR) at 136% and net stable funding ratio (NSFR) at 119%, well above the minimum regulatory requirements. The loan-to-deposit ratio (LDR) was stable at 85.8%. As at 30 June 2020, the Group's Common Equity Tier 1 CAR remained strong at 14.0%. The Group's leverage ratio of 7.3% was well  above regulatory requirement of 3%. The Group remains well capitalised to navigate the macro uncertainties ahead.

https://links.sgx.com/FileOpen/UOB_1H20%...eID=626431

Wear mask and keep your social distance, everyone
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#78
UOB freezes wages, slows hiring amid continued fallout from Covid-19



https://www.straitstimes.com/business/ba...m-covid-19



SINGAPORE - United Overseas Bank is freezing the wages of its staff and limiting hiring amid the economic fallout from the coronavirus pandemic.



In response to media queries, UOB head of group human resources Dean Tong said: "As we focus on protecting the livelihoods of our people, we are keeping salaries at their current levels for now and will revise our stance as the external environment improves."



On hiring, he told The Straits Times that the bank will take a "disciplined and selective approach to any new headcount increases", with new appointments to be "approved at the most senior levels".



He stressed that UOB will continue investing in and hiring for roles essential to its strategic priorities.



Mr Tong told ST that these strategic roles include positions in areas such as technology and data analytics, as well as commercial and corporate banking.


Other banks indicated that they may similarly take further action to keep a lid on costs. 




A DBS Bank spokesman said the bank is facing significant income and credit cost headwinds as the external environment continues to be challenging.



“We have been prudent on expenses, (and this) has involved prioritising investments as well as cutting back on variable staff compensation. These measures may not be sufficient. We will calibrate any further responses in the next few months,” he told ST.



OCBC Bank’s head of HR planning Jacinta Low said: “As the financial year has not come to an end, we will review the compensation and rewards at a later date.”



UOB has a workforce of more than 26,000 employees across the group. It operates in 19 markets, including China, Hong Kong, Thailand, and Malaysia. 



Said Mr Tong: "Given the transformational times we are in, we remain committed to seeing our people through to better times and will continue to invest in their reskilling and upskilling. This will ensure that our people, and the bank, will emerge stronger when these difficult days are over."



In an internal memo, the bank told senior staff that it expects the situation to worsen before improving when the Government cuts some of its support, reported Bloomberg on Tuesday (Sept 15).



Salary increases and promotions will be put on hold until further notice, Bloomberg quoted the memo as saying. It reported that the hiring restrictions will last until December 2021.



"We will review these dynamically as and when the situation improves," the memo added. It was sent on behalf of Mr Tong, head of group strategy and transformation Federico Burgoni and group chief financial officer Lee Wai Fai, said Bloomberg.



Singapore's third-largest bank posted a 40 per cent fall in second-quarter net profit to $703 million due to weaker income and a surge in provisions set aside to brace for the easing of loan moratoria, UOB chief Wee Ee Cheong told analysts and media at a briefing in August.



This was weaker than the consensus forecast of $815 million in net income estimated by four analysts in a Bloomberg poll.





Bloomberg Intelligence banking analyst Diksha Gera said in a report on Tuesday that UOB's "hiring, pay and promotion freeze" poses risks to dividend payout this year, as the lender could see more than a 30 per cent fall in profit because of continued economic headwinds in key markets.



"UOB's higher exposure to small businesses in Singapore raises its vulnerability versus peers DBS and OCBC," she wrote.



Earlier this year, local banks DBS, OCBC and UOB pledged not to cut jobs. Some of them said they would also employ more staff.



DBS  committed to hiring around 2,000 people here this year in existing and new roles, while OCBC said it would recruit 3,000 people in full-time positions, traineeships and internships.



Although it is slowing hiring, UOB told ST on Tuesday it is offering 320 traineeships in more than 10 business and support units across the bank for its operational needs and digitalisation and innovation efforts.
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#78
UOB freezes wages, slows hiring amid continued fallout from Covid-19



https://www.straitstimes.com/business/ba...m-covid-19



SINGAPORE - United Overseas Bank is freezing the wages of its staff and limiting hiring amid the economic fallout from the coronavirus pandemic.



In response to media queries, UOB head of group human resources Dean Tong said: "As we focus on protecting the livelihoods of our people, we are keeping salaries at their current levels for now and will revise our stance as the external environment improves."



On hiring, he told The Straits Times that the bank will take a "disciplined and selective approach to any new headcount increases", with new appointments to be "approved at the most senior levels".



He stressed that UOB will continue investing in and hiring for roles essential to its strategic priorities.



Mr Tong told ST that these strategic roles include positions in areas such as technology and data analytics, as well as commercial and corporate banking.


Other banks indicated that they may similarly take further action to keep a lid on costs. 




A DBS Bank spokesman said the bank is facing significant income and credit cost headwinds as the external environment continues to be challenging.



“We have been prudent on expenses, (and this) has involved prioritising investments as well as cutting back on variable staff compensation. These measures may not be sufficient. We will calibrate any further responses in the next few months,” he told ST.



OCBC Bank’s head of HR planning Jacinta Low said: “As the financial year has not come to an end, we will review the compensation and rewards at a later date.”



UOB has a workforce of more than 26,000 employees across the group. It operates in 19 markets, including China, Hong Kong, Thailand, and Malaysia. 



Said Mr Tong: "Given the transformational times we are in, we remain committed to seeing our people through to better times and will continue to invest in their reskilling and upskilling. This will ensure that our people, and the bank, will emerge stronger when these difficult days are over."



In an internal memo, the bank told senior staff that it expects the situation to worsen before improving when the Government cuts some of its support, reported Bloomberg on Tuesday (Sept 15).



Salary increases and promotions will be put on hold until further notice, Bloomberg quoted the memo as saying. It reported that the hiring restrictions will last until December 2021.



"We will review these dynamically as and when the situation improves," the memo added. It was sent on behalf of Mr Tong, head of group strategy and transformation Federico Burgoni and group chief financial officer Lee Wai Fai, said Bloomberg.



Singapore's third-largest bank posted a 40 per cent fall in second-quarter net profit to $703 million due to weaker income and a surge in provisions set aside to brace for the easing of loan moratoria, UOB chief Wee Ee Cheong told analysts and media at a briefing in August.



This was weaker than the consensus forecast of $815 million in net income estimated by four analysts in a Bloomberg poll.





Bloomberg Intelligence banking analyst Diksha Gera said in a report on Tuesday that UOB's "hiring, pay and promotion freeze" poses risks to dividend payout this year, as the lender could see more than a 30 per cent fall in profit because of continued economic headwinds in key markets.



"UOB's higher exposure to small businesses in Singapore raises its vulnerability versus peers DBS and OCBC," she wrote.



Earlier this year, local banks DBS, OCBC and UOB pledged not to cut jobs. Some of them said they would also employ more staff.



DBS  committed to hiring around 2,000 people here this year in existing and new roles, while OCBC said it would recruit 3,000 people in full-time positions, traineeships and internships.



Although it is slowing hiring, UOB told ST on Tuesday it is offering 320 traineeships in more than 10 business and support units across the bank for its operational needs and digitalisation and innovation efforts.
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