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UOB Looks to Expand Private Wealth Growth via Corporate Partnerships

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Sig2.55Sen+2.65Env0.00Soc0.00Gov+0.20

UOB reported second-quarter net profit of SGD 1.5 billion, up 10% year-on-year, though net interest margin fell to 1.74% quarter-on-quarter and was around 1.71% by end-July. Wealth remained a key growth driver as the bank links corporate and cross-border FDI relationships to private banking, aiming to strengthen distribution and reporting as it shifts from investment manufacturing to wealth distribution.

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