In 2001, Far Eastern Bank
successfully acquired by Overseas Union Bank Ltd with a US$5.7 billion offer
which outbid rival DBS Bank's $5.2 billion bid. It legally became a single
entity under the UOB name from 2 January 2002, becoming Singapore's largest
bank in terms of domestic customer loans, credit cards and market
capitalisation. United Overseas Bank Limited SGX: U11 (Simplified Chinese:
大华银行有限公司; Pinyin: Dàhuá Yínháng Yǒuxìan Gōngsī), abbreviated as UOB
(Simplified Chinese: 大华银行; Pinyin: Dàhuá Yínháng) is a bank incorporated in
Singapore. UOB has charted steady growth over the past 75 years to establish
itself as a leading bank in Singapore.
Today, the UOB Group has a network of over 500 offices spanning 19 countries
and territories in Asia Pacific, Western Europe and North America. UOB
provides a wide range of financial services through its global network of
branches, offices, subsidiaries and associates: personal financial services,
private banking, commercial and corporate banking, investment banking,
corporate finance, capital market activities, treasury services, futures
broking, asset management, venture capital management, insurance and
stockbroking services. |
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UOB also has diversified interests in travel and property management. In
Singapore, UOB is a market leader in the credit card and private residential
home loan businesses. It is also a key player in loans to small and medium
enterprises. Its asset management arm, UOB Asset Management, is one of
Singapore’s most awarded fund managers with a growing regional presence. UOB
is rated among the world’s top banks by Moody’s Investors Service, receiving
B for financial strength, and Aa1 and Prime-1 for long-term and short-term
bank deposits respectively.
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