UOB (United Overseas Bank)

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#11
The Straits Times
www.straitstimes.com
Published on May 03, 2013
UOB's Q1 gains rise by 4.9% to record $722m

By Yasmine Yahya

UNITED Overseas Bank surpassed analyst forecasts yesterday by posting record earnings for the first three months of the year despite higher costs and lower interest income.

The bank said its net earnings for the first quarter rose 4.9 per cent from the same period a year ago to $722 million, bolstered by strong growth in its loans book and fee income, which also hit a new record.

Gross customer loans of $167 billion as of March 31 were 13.3 per cent higher than in the first quarter of last year.

Loans originating from Singapore increased by 15.5 per cent to reach $110 billion during the first quarter, while the regional countries' loan base grew 9.7 per cent to $47.8 billion.

Customer deposits were 11.7 per cent higher from a year ago at $188 billion as of March 31.

Fee and commission income, meanwhile, rose 25.2 per cent to a record $453 million for the quarter.

"Continued efforts to boost fee income to mitigate effects of margin pressure paid off," the bank noted in a statement posted on the Singapore Exchange yesterday.

"The sterling performance in fee income was underpinned by strong growth in lending, fund management, capital market and wealth management businesses."

The robust growth in fee income and loans helped offset a drop in trading and net interest income as well as higher expenses.

Net interest income fell 3.5 per cent from a year ago to $964 million, due to a decrease in asset yields.

Net interest margin was also lower at 1.7 per cent, against 1.98 per cent a year ago.

Trading and investment income was 22 per cent lower from a year ago, at $158 million, due to lower gains made on the sale of securities.

Operating expenses crept up 2.9 per cent to $696 million, due to higher staff costs.

Total impairment charges rose 22.8 per cent to $130 million, as more collective impairment was set aside on higher loans growth.

UOB's net profit beat forecasts by analysts polled by Reuters, who on average predicted the bank would report earnings of $666 million.

"Despite this strong start, we are mindful that overall growth is expected to moderate this year," said chief executive Wee Ee Cheong. Within Asia, especially South-east Asia, business and economic fundamentals remain sound and UOB will continue to have ample liquidity as it faces intense competition, he added.

"Given our balance sheet strength, we are well-positioned to navigate the changing landscape, even as Basel III implementation kicks in this year."

Basel III refers to a set of regulations that require banks to boost their capital base in order to guard against collapse when faced with a shock event.

"With our regionalisation initiatives on track, we remain confident of furthering our regional wholesale and wealth management business," Mr Wee said.

yasminey@sph.com.sg
My Value Investing Blog: http://sgmusicwhiz.blogspot.com/
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#12
http://infopub.sgx.com/FileOpen/2Q13News...eID=250270

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#13
UOB eyes Hong Kong’s Wing Hang Bank: Sources

SINGAPORE — United Overseas Bank (UOB) is interested in Hong Kong’s family-run Wing Hang Bank, according to people with knowledge of the matter, joining other potential buyers seeking greater access to banking in China.

For UOB, Singapore’s third-largest bank by assets, acquiring Wing Hang is a chance to increase its footprint in Greater China, where it currently lags behind rival DBS Group.

Wing Hang said early last week its main shareholders, which include members of the Fung family and BNY International Financing Corp, who jointly own 45 per cent of the bank, had received preliminary bids. If a deal goes ahead, the buyer must make a general offer to the other shareholders under Hong Kong takeover rules.

UOB declined to comment. Australia and New Zealand Banking Group and China Life Insurance are also said to be interested in Wing Hang.

China’s economic might and the healthy growth in the offshore yuan loan market have made Hong Kong’s mid-sized banks increasingly attractive to foreigners.

Wing Hang may fetch a price tag of HK$61 billion (S$9.9 billion), analysts said, or about 68 per cent more than its market value. The bank closed up 0.2 per cent yesterday, giving it a market value of HK$36.2 billion. AGENCIES
http://www.todayonline.com/business/uob-...nk-sources
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#14
UOB Group 9months' 2013 Earnings Up 6% to S$2.2B
http://infopub.sgx.com/FileOpen/3Q13News...eID=262697

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#15
United Overseas Bank Limited will be announcing its 2013 full year financial results on Friday, 14 February 2014.


http://infopub.sgx.com/FileOpen/UOB-A201...eID=269340

<vested-oldpot>
Not a call to Buy or Sell

Mr Bump: All I Can Smell Is My FEAR
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#16
UOB Group Delivers Record Full Year 2013 Earnings of S$3 billion

http://infopub.sgx.com/FileOpen/4Q13News...eID=274655

50cts Dividend + 5cts special
<The scrip dividend scheme (the “Scheme”) will be applied to the final and special dividends for the financial
year ended 31 December 2013. A separate announcement will be made of the books closure and relevant
dates for participation in the Scheme>

<vested-oldpot>
Not a call to Buy or Sell

Mr Bump: All I Can Smell Is My FEAR
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#17
I rather trust a career banker (even a 2nd generation one) than others that are constantly being hired for short term target:

Mr Wee said the ongoing volatility does not affect UOB's long-term strategy in Asia.

"Capital outflows from the emerging markets are mainly from financial investors - hedge funds, fund managers selling stocks.

"But this is not the kind of customer base we have. We are financing strategic investors who believe in Asia," he said.


Banks put in strong 2013 performances
Volatility won't affect UOB's Asia plans: Wee

OCBC, UOB, DBS upbeat on this year’s outlook despite loan curbs, volatility

Published on Feb 15, 2014

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UOB posted a record full-year net profit of $3.01 billion, up 7.3 per cent from 2012, and&nbsp;making it the first time that the bank has crossed the $3 billion mark. -- ST FILE PHOTO

UOB posted a record full-year net profit of $3.01 billion, up 7.3 per cent from 2012, and making it the first time that the bank has crossed the $3 billion mark. -- ST FILE PHOTO

UOB posted a record full-year net profit of $3.01 billion, up 7.3 per cent from 2012, and&nbsp;making it the first time that the bank has crossed the $3 billion mark. -- ST FILE PHOTO
UOB chief executive Wee Ee Cheong

THE short-term volatility rocking Asian financial markets will have little impact on United Overseas Bank's (UOB's) business, and will not affect the lender's growth strategy in the region.

This was the message from UOB chief executive Wee Ee Cheong as he unveiled an 11.1 per cent rise in the bank's fourth-quarter net profit from the same period a year earlier to $773 million.

The fatter bottom line was supported by a rise in net interest income in the three months ended Dec 31, up 13.3 per cent year on year to $1.1 billion.

Fee and commission income in the fourth quarter grew 12.2 per cent to $435 million, bringing total non-interest income 3.4 per cent higher at $647 million.

These numbers contributed to a record full-year net profit for UOB of $3.01 billion, up 7.3 per cent from 2012, and the first time that the bank has crossed the $3 billion mark.

Net interest income for the whole year grew 5.2 per cent to $4.12 billion as loans grew 16.8 per cent to $182 billion.

The rate of loan growth will likely moderate to the "high single digits" this year, Mr Wee said, as growth in Asian economies are slowing and as property cooling measures across the region continue to dampen the housing market.

"In retail banking, the pace of new loan bookings has eased due to government cooling measures across the region, but there is no major impact to our books in the near term due to the strong pipeline built up over the last couple of years," he said.

Fee and commission income rose 14.8 per cent for the full year to $1.73 billion, on the back of broad-based grow-th in corporate finance and capital markets, wealth management, fund management and loan-related businesses.

Trading and investment income, however, declined 19.2 per cent to $544 million on lower gains from the sale of securities due to market volatility amid concerns over the tapering of the United States Federal Reserve's bond-buying programme.

Mr Wee said the ongoing volatility does not affect UOB's long-term strategy in Asia.

"Capital outflows from the emerging markets are mainly from financial investors - hedge funds, fund managers selling stocks.

"But this is not the kind of customer base we have. We are financing strategic investors who believe in Asia," he said.

Asian economies are much stronger today than they were in 1997 just before the Asian financial crisis, he noted, and it is unlikely the market turmoil will turn into a crisis, he added.

UOB's earnings per share was $1.84, up from $1.72 in 2012, while net asset value per share was $15.36 as at Dec 31, up from $14.56 a year earlier.

The board has recommended a final dividend of 50 cents a share and a special dividend of five cents a share.

YASMINE YAHYA


(14-02-2014, 05:18 PM)kbl Wrote: UOB Group Delivers Record Full Year 2013 Earnings of S$3 billion

http://infopub.sgx.com/FileOpen/4Q13News...eID=274655

50cts Dividend + 5cts special
<The scrip dividend scheme (the “Scheme”) will be applied to the final and special dividends for the financial
year ended 31 December 2013. A separate announcement will be made of the books closure and relevant
dates for participation in the Scheme>

<vested-oldpot>
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#18
i had very bad experience opening account at UOB of CITY SQ J B. The first time it took me almost 2 hours. The 2nd time even worse. The clerk after all the paper works told me to wait for approval as the only officer had gone out for lunch. The problem was it was almost 2 hours and the clerk couldn't confirm when the officer would be back. I cancelled my transaction on the spot. And the joke is UOB here has a beautiful Service Feedback forms which i used and also talked to some of the supposed "officers". But they claimed the FB officer in charge was on leave or something like that.
i think with this kind of service UOB@ JB CITY SQ should closed soon which they did long time ago.
And one of the staff (a lady) after a week or two had the cheek to call me on my HP to enquired about my FB. She gave me a sense of "laughing at the whole matter" instead of trying to remedy the situation.
i hope Singapore UOB's W C Y or some big shots come to know about how UOB JB@CITY SQ operates as far as opening a simple banking foreign account is concerned. And the officers who just went through the motion of just doing nothing when FB about the problems.
Sorry Singapore UOB your Banking's Efficiency really sucks eggs at JB CITY SQ.

Will you buy UOB shares?
Think thrice?
WB:-

1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.

Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.

NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
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#19
(31-03-2014, 09:35 AM)Temperament Wrote: i had very bad experience opening account at UOB of CITY SQ J B. The first time it took me almost 2 hours. The 2nd time even worse. The clerk after all the paper works told me to wait for approval as the only officer had gone out for lunch. The problem was it was almost 2 hours and the clerk couldn't confirm when the officer would be back. I cancelled my transaction on the spot. And the joke is UOB here has a beautiful Service Feedback forms which i used and also talked to some of the supposed "officers". But they claimed the FB officer in charge was on leave or something like that.
i think with this kind of service UOB@ JB CITY SQ should closed soon which they did long time ago.
And one of the staff (a lady) after a week or two had the cheek to call me on my HP to enquired about my FB. She gave me a sense of "laughing at the whole matter" instead of trying to remedy the situation.
i hope Singapore UOB's W C Y or some big shots come to know about how UOB JB@CITY SQ operates as far as opening a simple banking foreign account is concerned. And the officers who just went through the motion of just doing nothing when FB about the problems.
Sorry Singapore UOB your Banking's Efficiency really sucks eggs at JB CITY SQ.

Will you buy UOB shares?
Think thrice?

hahaha, i have my malaysia UOB saving account open at kulai. so far so good. not much people there.

btw, i think most staffs working attitude in malaysia are like that.
not only uob staffs la.
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#20
Just one bad experience in malaysia means gone case for the whole bank?

Think twice?
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