UOB has the largest network of 41 branches among foreign banks in Malaysia

Friday, July 24, 2009

UOB benefits from the recovery in domestic consumption in Singapore. It is ranked number 1 in credit and debit cards with a total card base of above 1.5m. Professionals and private individuals accounted for 12.6% of total loans in 1Q09 (DBS: 7.8% and OCBC: 9.5%). UOB is the largest player for housing loans (24.2% of total loans) and financed one in three property transactions in 2008.

UOB has the largest network of 41 branches among foreign banks in Malaysia. Prime Minister Najib Razak’s plan to liberalise the financial sector has provided operational flexibilities. Locally incorporated foreign banks will be allowed to establish 10 micro finance branches with immediate effect and four new fullfledged branches in 2010.

Tier-1 CAR improved from 10.9% in 4Q08 to 12.3% in 1Q09 through the reduction of risk-weighted assets, higher retained earnings and a S$218m increase in available-for-sale reserves. The timely boost to tier-1 CAR has averted the risk of equity fund raising.


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