UOB enters Vietnam joint venture with VIG to develop loyalty-program services
UOB said Friday it entered a JV with VI Fund III, or VIG, to set up a subsidiary in Vietnam to develop digital loyalty program services for companies.
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UOB becomes first foreign bank to open branch in Zhongshan
UOB became the first foreign bank to open a branch in Zhongshan City in China’s Guangdong Province, the Singapore bank said Thursday.
Maybank KimEng: What matters most for Singapore banks’ non-performing loans
Overseas lending, particularly business loans, is a key variable in determining whether Singapore banks’ NPLs tick higher, Maybank KimEng said.
UOB Asset Management completes acquisition of PGAM stake
UOB Asset Management said Wednesday it completed the acquisition of a 75% stake in Indonesia-based PGAM, expanding its regional network an eighth Asian market.
UOB, BNP Paribas to coordinate US$200M green club loan facility for Agricultural Bank of China
UOB and BNP Paribas said Tuesday they were joint advisers and coordinators for a US$200M green club loan facility for Agricultural Bank of China’s Singapore branch.
UOB prices US$500 million covered bonds due 2022
UOB prices US$500 million in 1.625 percent covered bonds due 2022 at 99.694 percent of the principal amount, the bank said in a filing to SGX Friday.
UPDATE: UOB reports 2Q net profit rose 8 percent amid strong wealth management flows
UOB reported Friday 2Q19 net profit rose 8% on-year to S$1.08 billion, beating forecasts from CGS-CIMB and Daiwa, amid strong wealth management flows.
OCBC and UOB: Can Singapore banks pull a net interest margin trifecta?
DBS topped profit forecasts after its net interest margin rose more than forecast, but it isn’t clear if OCBC and UOB can match the performance.
UOB’s Sydney branch prices A$500 million three-year notes
United Overseas Bank said Wednesday its Sydney branch plans to issue A$500 million of floating rate notes due July 2022.
UOB prices S$750 million perpetual securities
UOB priced S$750M in 3.58 percent perpetual securities, which will be issued under its US$15B global medium-term note program, the bank said Thursday.
Maybank KE: Singapore banks may benefit from trade war fallout
Singapore banks are seeing rising credit demand from trade-related sectors, suggesting Southeast Asia is benefiting from the trade war, Maybank KE said Monday.
DBS: This is who will benefit from new digital banking licences
Small-to-medium sized enterprises (SMEs) are likely to benefit from Singapore’s move to allow digital banks into the market, DBS said in a note Monday.
UOB enters China joint venture for consumer finance
UOB entered an agreement with Shenergy (Group) to set up a joint venture consumer finance company in Shanghai, China, the Singapore bank said Friday.
Singapore central bank to issue up to five new digital bank licences
The Monetary Authority of Singapore said Friday it would issue up to five new digital bank licences, opening the banking sector to non-bank players.
UOB inks deal with CapBridge for private investment platform
UOB and CapBridge signed an agreement to offer private-capital services to private, high-growth companies in Singapore, the two said in a statement Monday.
Sunseap obtains S$43 million green loan from UOB to fund 210 rooftop solar sites
Sunseap said Thursday it received a S$43 million green loan from UOB to fund rooftop solar installations at 210 commercial, industrial and government sites.
Maybank KE: Singapore banks’ share buybacks signal value is emerging
Singapore banks have increased their share buybacks even as their stocks have dropped, signaling emerging value, Maybank KimEng said Friday.
UPDATE: Singapore stocks to watch Wednesday: Temasek, Sembcorp, Gallant, OCBC, UOB, OUE
These are Singapore companies which may be in focus on Wednesday, 11 June 2019: Temasek, Sembcorp, Gallant, OUE, China Jinjiang Environment, OCBC and UOB.
UOB Venture Management to launch second Asia fund for impact investing
UOB Venture Management said Monday it will launch a second impact investment private equity fund for Asia, targeting education, healthcare and agriculture.
Moody’s points to potential credit quality concerns for Singapore’s banks
Singapore’s banks has strong fundamentals, but they will face credit vulnerabilities ahead, but Moody’s Investors Service said in a note last week.
CGS-CIMB downgrades Singapore banks on ‘harder days ahead’
CGS-CIMB downgraded Singapore’s bank sector to Neutral from Overweight, on expectations of “harder days ahead” for UOB, OCBC and DBS.
Maybank KE: Singapore banks offer strong platforms to manage trade war risks
Despite the recent selloff Singapore banks’ shares amid trade tensions, the sector has “strong platforms” for responding to volatility, Maybank KimEng said.
UOB margins set to finally move higher: Maybank KimEng
UOB’s 1Q19 NIM disappointed, falling by 5 basis points, but it may finally begin to see positive momentum ahead, Maybank KimEng said in a note last week.
UOB expects to benefit from the US trade war with China
UOB expects to benefit from U.S.-Sino trade tensions, with companies set to diversify their supply chains into Southeast Asia, the bank said Wednesday.
OCBC: Time to lock in profits on UOB shares
OCBC downgraded shares of UOB to Hold from Buy, saying that after the stock’s around 13 percent year-to-date rally.
UPDATE: UOB reports 1Q19 net profit rose 8 percent on solid loan growth
UOB reported Friday its first quarter net profit rose 8 percent on-year to S$1.05 billion as strong loan growth offset a drop in its net interest margin.
UOB, SGX, CCOIC enter deal to help Chinese companies expand in Southeast Asia
UOB, SGX and the China Chamber of International Commerce said Sunday they signed a deal to help Chinese firms use Singapore as a base for expanding into Southeast Asia.
RHB: UOB set for higher net interest income
UOB’s NIM in the first quarter may be relatively flat on-quarter, but its net interest income is likely to grow, RHB said in a note this week.
Phillip Capital forecasts UOB to face softer NIM on funding pressure
UOB’s NIM may face pressure ahead as more expensive fixed deposits make up a greater portion of the bank’s funding mix, Phillip Capital said.
Maybank KE: UOB earnings growth driven by overseas loan book
UOB’s lagging net interest margins (NIMs) are set for an inflection point in the first quarter amid loan growth overseas and re-priced mortgages within Singapore,…
UOB prices US$600 million subordinated notes due 2029
UOB priced US$600 million of 3.75 percent subordinated notes due 2029 and callable in 2024, the bank said in an SGX filing Tuesday.
Nomura upgrades OCBC to Buy, sticks with Overweight call on Singapore banks
Nomura upgraded OCBC to Buy after the share’s recent correction, and stuck with an Overweight call on Singapore’s banks on low valuations.
UPDATE: Singapore stocks to watch Wednesday: UOB, Valuetronics, Cache Logistics Trust, CH Offshore
These are Singapore companies which may be in focus on Wednesday, 13 March 2019: UOB, Valuetronics, Cache Logistics Trust and CH Offshore.
UOB prices its first Panda bond, with 2 billion yuan offering meeting with strong demand
UOB’s first Panda bond met strong demand, with the three-year 2 billion yuan offering pricing at 3.49 percent, the Singapore bank said on Wednesday.
Daiwa: Singapore banks remain a haven despite 4Q18 earnings misses
Despite Singapore banks’ 4Q18 earnings missing forecasts, the shares remain a “store of value” amid economic uncertainty this year, Daiwa said Monday.
UPDATE: Singapore stocks to watch Friday: UOB, OCBC, Wilmar, Genting Singapore, Hi-P
These are Singapore companies which may be in focus on Friday, 22 February 2019: OCBC, UOB, Wilmar, Genting Singapore, Hi-P and Roxy-Pacific.
UPDATE: UOB 4Q18 net profit rises 7 percent, but misses some analyst forecasts
Singapore bank UOB reported on Friday 4Q18 net profit rose 7% on-year, on higher loan growth. The results missed some forecasts.
UOB 4Q18 earnings may outperform peers on lower China exposure
UOB may outperform its peers when it reports earnings Friday, benefiting from its lower exposure to China and wealth management, analysts said.
Singapore banks downgraded in Daiwa’s Singapore strategy
Daiwa downgraded Singapore banks to Neutral and deleted DBS from its portfolio as the investment bank positioned away from rate-sensitive plays.
UPDATE: UOB, Prudential renewed bancassurance deal in Southeast Asia
Singapore bank UOB said on Thursday that it renewed its bancassurance tie-up with Prudential Group for 15 years, with the insurer to pay the Singapore…