- We attended UOB (SGX:U11)’s Corporate Day held in Kuala Lumpur on 14 Aug 2024 where management outlined plans for UOB’s 2026 strategy and addressed some of the questions from investors and analysts.
- - Read this at SGinvestors.io -
- ASEAN-4 countries will lead the growth in both Wholesale and Retail banking, with the contribution shifting from Singapore. UOB aims to be the top trade bank in ASEAN, and Citi acquisitions has supported retail banking income growth; wealth AUM to increase 60% by 2026.
Group Financials
ROE of 14% sustained until 2026.
- - Read this at SGinvestors.io -
- higher contribution from ASEAN-4 countries such as Indonesia, Malaysia, Thailand and Vietnam to 30% by 2026 (FY23: 26%); and
- a higher mix of non-interest income (2026: 37% vs 2023: 31%) as compared to net interest income, aided by growth in wealth, trade and customer treasury income.
Offshoring to maintain CIR of 40%.
- Read more at SGinvestors.io.
