United Overseas Bank (UOB)

RHB stays 'overweight' on Singapore banks as MAS keeps policy unchanged
SINGAPORE (Apr 15): RHB Group Research is maintaining its “overweight” call on Singapore banks, after the Monetary Authority of Singapore (MAS) on Friday kept its monetary policy settings unchanged amid a worsening global growth outlook and low inflation. MAS uses the exchange rate as its main policy tool. After tightening policy twice last year, the central bank last week left the slope ...
Central banks turn dovish as IMF urges to 'do no harm'
SINGAPORE (Apr 15): Major central banks around the world have maintained a dovish stance, in line with a softer growth outlook by the International Monetary Fund. In its latest World Economic Outlook on April 9, the IMF lowered its growth forecast for 2019 to 3.3%, from 3.5% previously. This is the third time in six months that the fund has trimmed its outlook. The IMF cautioned that ...
Overseas growth to drive UOB's earnings: Maybank KE
SINGAPORE (Apr 12): Overseas growth will help drive earnings and share price of United Overseas Bank (UOB), according to Maybank Kim Eng, which continues to rate the bank a “buy” with an unchanged target price of $29.71. In a Thursday report, analyst Thilan Wickramasinghe believes that concerns of weak earnings growth in Singapore are to blame for UOB’s 6% YTD underperformance, as ...
Singapore bans former HSBC, UOB bankers on fraud, dishonesty
SINGAPORE (April 11): Singapore has meted out lengthy bans to convicted former HSBC Holdings Plc and United Overseas Bank Ltd. bankers for fraud and dishonest conduct. Emeline Tang, a former HSBC employee, was banned from providing any capital markets and financial advisory services for 20 years, the Monetary Authority of Singapore said in a statement on Wednesday. Former UOB employee Nguyen ...
OCBC still bullish on banking stocks after a lacklustre FY18
SINGAPORE (Mar 26): OCBC Investment Research remains bullish on Singapore’s banking space while keeping its sector “overweight” with “buy” calls on both DBS and UOB, which have been given fair value estimates of $29.31 and $28.30, respectively. Both stocks had dividend yields of 4.8%, with DBS and UOB trading at the respective book values of 1.3 times and 1.1 times, or at an average ...
Singapore banks to shine despite regional macros, competition from fintechs: Maybank
SINGAPORE (Mar 18): Maybank Kim Eng is keeping “positive” on Singapore’s banking sector while noting significant interest among Malaysian investors in Singapore banks from a flight-to-quality angle, and for their high dividend yields as the SGD appreciates. This comes post a meeting with 15 Malaysian investors from a mix of long-only, hedge and private-banking funds to discuss Singapore ...
UOB plans for the future; targets 3-5 mil regional digital customers over 5 years
SINGAPORE (Mar 15): United Overseas Bank is targeting 3-5 million digital customers in five markets over the next five years. UOB is committed to maintaining dividend payout ratio at 50% if CET-1 CAR stays above 13% and it achieves RORWA (return on risk-weighted assets) of 1.60-1.65%. Meanwhile, the bank says will stay disciplined in pursuing sustainable growth as global uncertainties ...
UOB issues Singapore's first RMB Panda bond
SINGAPORE (Mar 13): United Overseas Bank has issued the first Panda bond from Singapore, making it the second Southeast Asian financial institution to do so. Panda bonds are Renminbi-denominated bonds issued by foreign companies. UOB’s debut onshore RMB bond was priced at 3.49%, one of the lowest rates among all Panda bonds issued to date. The three-year RMB2 billion ($404.2 million) ...
US rate hike pause priced into banking stocks, says CGS-CIMB
SINGAPORE (Mar 11): CGS-CIMB Research says current bank valuations have priced in downside risks of a pause in US Federal Reserve rate hikes on sector earnings. Absence of asset quality pressure should also prevent de-rating. “Maintain ‘Overweight,” says analyst Andrea Choong in a Friday report with DBS Group Holdings, United Overseas Bank and Oversea-Chinese Banking Corp in order of ...
DBS is Maybank Kim Eng's top pick amid expectation of wider NIM in 2019
SINGAPORE (Mar 7): Maybank Kim Eng Research says DBS Bank is its top pick among local banks on the back of its strong low cost deposit franchise. “Domestic banks, with lower loan to deposits (LD) ratios and higher mix of low cost deposits, should see net interest margins (NIMs) rise further,” says analyst Thilan Wickramasinghe in a report on Wednesday. “We believe DBS is best ...