United Overseas Bank
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Holding company (Public limited company) |
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| Traded as |
SGX: U11 OTC Pink: |
| Industry | Investment banking, Financial services |
| Founded | July 6, 1935 |
| Founder | Wee Kheng Chiang |
| Headquarters | UOB Plaza, 80 Raffles Place, Singapore 048624 |
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Number of locations
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500 offices across 19 countries |
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Area served
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Worldwide |
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Key people
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Wee Cho Yaw (Chairman Emeritus and Adviser) Hsieh Fu Hua (Chairman) Wee Ee Cheong (Deputy Chairman and CEO) |
| Revenue | S$8.050 billion (2015) |
 S$3.210 billion (2015) |
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| Total assets | US$231.6 billion (2015) |
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Number of employees
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12,142 |
| Website | www |
United Overseas Bank Limited (commonly known as UOB; simplified Chinese: 大华银行有限公司; traditional Chinese: 大華銀行有限公司; pinyin: Dàhuá Yínháng Yǒuxìan Gōngsī;) is a Singaporean multinational banking organisation headquartered in Singapore, with branches mostly found in most Southeast Asian countries. Founded in 1935 as United Chinese Bank (UCB) by Sarawak businessman Wee Kheng Chiang, the bank was set up together with a group of Chinese-born businessmen. The bank is the third largest bank in South East Asia by total assets.
UOB provides commercial and corporate banking services, personal financial services, private banking and other asset management services, as well as corporate finance, venture capital, investment, and insurance services. It has 68 branches in Singapore and a network of more than 500 offices in 19 countries and territories in Asia Pacific, Western Europe and North America
On August 6, 1935, businessman Wee Kheng Chiang, together with six other friends, established the bank after raising S$1 million. The bank was named United Chinese Bank (UCB) to emphasize its links to the Chinese population in Singapore. On October 1935, UCB opened for business in the three story Bonham Building. In 1965, the bank was renamed to United Overseas Bank and opened its first overseas branch in Hong Kong.
In 1970, UOB was listed on the Joint Stock Exchange of Singapore and Malaysia, at that time which Singapore did not have its own stock exchange. After it was publicly listed, the bank went through a series of targeted acquisitions. The bank first acquired Chung Khiaw Bank in 1971, which expanded its domestic presence and also gave the bank offices in Malaysia and Hong Kong. In 1973, UOB then acquired Lee Wah Bank, which provided services in Malaysia and Singapore. In that same year, the bank built a new 30 storey office tower in place of the Bonham Building, which was named the UOB Building (now known as UOB Plaza 2). The company continued with acquisitions, with Far Eastern Bank in 1984, Westmont Bank (now known as UOB Philippines) and Radanasin Bank (now known as United Overseas Bank (Thai) Public Company Limited) in 1999. The bank then took over the Overseas Union Bank Limited (OUB) in a takeover deal estimated to be worth S$10 billion in 2001.
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Wikipedia