Maybank Kim Eng analyst Thilan Wickramasinghe has maintained “buy” on UOB amid an improving operating outlook as well as better-than-expected asset quality that could drive upside surprises to earnings and provision writebacks.

Wickramasinghe, in a June 4 report, has also kept the bank’s target price at $29.34.

“[UOB’s] execution of its digital banking strategy together with green financing opportunities could further support medium term growth, in our view,” he writes.

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