UOB expands investment banking franchise

Singapore's second-largest lender makes a push into investment banking as part of a strategy to increase fee income.
Ronny Chng, UOB
Ronny Chng, UOB

UOB, Singapore’s second-biggest bank, is making a push into investment banking as it seeks to boost fee income and meet the growing needs of cash-rich companies in the region.

The bank, which is controlled by Singapore tycoon Wee Cho Yaw and his son Wee Ee Cheong, who is the CEO, is pushing into an area where its rival DBS has traditionally been more active.

Singapore’s three main lenders have been faced with limited growth in a mature market and have also been grappling with shrinking margins as rates have stayed low. To grow, they are looking at overseas acquisitions or leveraging their traditional lending relationships...

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