UOB Kay Hian analyst Jonathan Koh reports an upbeat outlook for United Overseas Bank (UOB) after it recently presented at the brokerage firm's Asian Gems Virtual Conference 2021.

In an unrated report on Oct 13, Koh highlights that loan growth is expected to pick up in the 2H2021, following the 6.1% expansion recorded for the first half of the year. 

The bank is expecting high-single-digit loan growth for 2021, driven by corporate customers seeking to lock in current low interest rates, buoyant sentiment for the residential property market, and UOB’s clientele of large corporations and institutions in developed markets that are carrying out acquisitions of commercial real estate, hospitality properties and new economy assets.

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