UOB Bank Singapore

Bank Name	United Overseas Bank Limited (UOB)
Founded	1935
Headquarters	80 Raffles Place, UOB Plaza, Singapore
CEO	Wee Ee Cheong
Total Assets (2025)	S$572 billion
Net Profit (2025)	S$4.682 billion
ROE (2025)	9.6%
SWIFT Code	UOVBSGSG
Singapore Presence	Islandwide branch, wealth, privilege and self-service network
Flagship Digital Product	UOB TMRW

Core Information

UOB Bank Singapore is one of the three large local banking groups in the city-state and remains deeply tied to
ASEAN trade, cross-border business flows, retail banking and wealth services.
In 2025, the bank closed the year with S$572 billion in total assets, S$426 billion in customer deposits and
S$352 billion in gross customer loans. Those numbers show a bank with real scale, but also a profile that still feels
closely connected to Singapore’s households, entrepreneurs and region-facing companies.

From a user intent angle, most people searching for UOB want a clear answer to three things: what the bank is, how large it is,
and what it offers in practice. That is why this page focuses on facts that matter when comparing banks, opening an account,
reviewing products or understanding UOB’s position in Singapore’s financial system.

About UOB

History

UOB was founded in 1935 as United Chinese Bank. It later adopted the name
United Overseas Bank in 1965. Over the decades, the bank expanded through organic growth and a series of acquisitions,
turning a single-bank origin in Singapore into a regional banking group with a footprint across Asia Pacific, Europe and North America.

Singapore remains the operational heart of the group. That matters because UOB’s local presence is not just symbolic. The bank uses
Singapore as a base for consumer banking, treasury activities, trade services, cash managment support and regional client coverage.
For businesses operating between Singapore and the rest of ASEAN, that structure is especially relevant.

Mission and Vision

UOB’s stated direction is closely tied to building the future of ASEAN. In practical terms, that means the bank positions
itself around three broad themes: connectivity,
personalisation and
sustainability.
Its public messaging also places heavy weight on doing right by customers, colleagues and communities, which shows up in the way it links
retail banking, business banking, digital channels and long-term regional expansion.

That purpose is not just branding. It helps explain why UOB invests so heavily in trade finance, foreign direct investment advisory,
wealth platforms and digital customer journeys rather than leaning only on domestic branch banking.

Landmark Milestones

Year	Event	Brief Note
2026	FY2025 Results Announced	Operating profit reached S$7.7 billion and total assets ended the year at S$572 billion.
2025	90th Anniversary Programmes	UOB marked 90 years with education and community initiatives across ASEAN.
2025	Seoul FDI Advisory Centre	The bank expanded its foreign direct investment advisory network with a Seoul centre.
2025	FY2024 Record Net Profit	UOB reported a record S$6.0 billion net profit for 2024 and announced a capital return package.
2001	Overseas Union Bank Acquisition	A major move that reshaped its domestic scale in Singapore.
1965	Renamed as UOB	United Chinese Bank adopted the United Overseas Bank name.
1935	Incorporation	The bank was incorporated in Singapore on 6 August 1935.

Products and Services

Retail Banking

UOB’s retail business covers the areas most users expect from a full-service Singapore bank:

• Current and savings accounts such as UOB One, Stash, Uniplus and passbook-based options
• Credit and debit cards for cashback, miles, rewards and daily spending
• Home, car and personal financing for individuals and families
• Wealth and investment access through funds, market insights and portfolio tools
• Insurance-linked access through related group offerings and partner channels

One useful point for Singapore users is that UOB keeps its retail proposition closely linked to actual banking behaviour. Account yields,
card rewards and bundled benefits often depend on actions such as salary crediting, card spend, GIRO payments or
deposit balances. That makes product selection more important than the headline rate alone.

SME and Corporate

UOB has long been strong in business banking, especially for firms that operate within Singapore and the broader ASEAN corridor.
Its offering goes beyond plain current accounts.

• Business accounts for local entities and foreign incorporated companies
• Cash management and payments through digital banking and treasury channels
• Trade finance, working capital and import-export support
• Foreign exchange and risk solutions for region-facing firms
• FDI advisory for companies expanding into ASEAN markets
• Sustainable finance access for firms aligning funding with transition goals

This is one of the clearest reasons UOB matters in Singapore. It serves not only local consumers, but also a large slice of the
cross-border business economy that flows through the city.

Digital Initiatives

UOB TMRW sits at the centre of the bank’s digital retail strategy. It is built as an all-in-one banking app covering
everyday banking, payments, rewards and selected investment functions. UOB has also expanded digital wealth access inside the app,
allowing users to view consolidated portfolios and transact in a curated list of funds.

The digital layer is not cosmetic. UOB has reported that one in two customers was acquired digitally, and that one in two customers
interacted with its customised insights and nudges. The bank also said payment activity on UOB TMRW kept growing, with transaction value
up 42% in 2024. That shows a bank pushing users toward app-first behaviour rather than treating mobile banking as a side channel.

For business users, UOB Infinity plays a similar role on the corporate side by handling payments, collections and account services
through a digital interface. Together, TMRW and Infinity show how UOB is trying to serve both households and firms without splitting the experience
into disconnected silos.

Financial Indicators (2023–2025)

Year	Net Profit (S$ bn)	Total Assets (S$ bn)	ROE (%)	NPL Ratio (%)	CET1 (%)
2025	4.682	572	9.6	1.5	15.1
2024	6.045	538	13.3	1.5	15.5
2023	5.711	524	13.4	1.5	13.4

The pattern is easy to read. Balance sheet size kept climbing, moving from S$524 billion in 2023 to S$572 billion in 2025.
Net profit peaked in 2024 and came down in 2025, while asset quality stayed steady at an NPL ratio of 1.5%. Capital remained strong,
with CET1 still above 15% in 2025. For readers comparing banks, this mix tells an important story:
UOB remained well-capitalised and liquid even in a softer profit year.

Another useful data point is funding. At the end of 2025, UOB reported an average all-currency liquidity coverage ratio of 147%
and a net stable funding ratio of 116%. Those levels add context to the bank’s balance sheet quality and support the view that
the franchise remains stable even when margins narrow.

Latest News and Developments

These updates matter because they explain where UOB is placing its attention. The bank is leaning into
fee income, wealth, regional business flows and digital engagement rather than depending only on a wide net interest margin.
That direction fits Singapore’s role as a financial and business hub.

Account Opening Process

Applicant Type	Usual Channel	Common Requirements
Singapore Citizens and PRs	Online via MyInfo, Internet Banking or eligible card/PIN flow	Personal details can be pre-filled through MyInfo; document upload is often not required for eligible applications.
Existing UOB Customers	Internet Banking or app-linked application journey	Use existing login credentials or card details for account setup where available.
Foreigners and U.S. Persons	Branch visit	Passport, proof of residential address, and pass documents such as Employment Pass, S Pass or Dependant Pass may be required.
Joint or Selected Special Cases	Branch visit or appointment	Some products and joint-account requests are handled in person.
Businesses	Branch-led or business banking process	Entity documents, identification of approved persons and signatories, and tax self-certification forms are commonly required.

For users who want the shortest path, the cleanest route is usually online application for eligible personal accounts.
For foreign applicants or more complex cases, making a branch appointment helps reduce waiting time and makes document checking easier.

Pros and Cons

Pros	Cons
Large regional footprint with strong ASEAN business links	Some headline retail benefits depend on salary credit, spend or balance conditions
Solid capital and funding ratios	Foreigners and certain joint-account applicants usually need a branch visit
Broad mix of retail, SME, corporate and wealth services	FY2025 profitability was lower than FY2024, so year-on-year comparisons need context
UOB TMRW and Infinity support digital-first banking	Product choice matters because different accounts reward different behaviours

Comparison with Other Singapore Banks

Bank	FY2025 Total Assets	FY2025 Net Profit	ROE	Typical Strength
DBS	S$897 billion	S$11.0 billion	16.2%	Largest scale and very strong digital franchise
OCBC	S$675.7 billion	S$7.42 billion	13.7%	Strong wealth and insurance-linked earnings mix
UOB	S$572 billion	S$4.682 billion	9.6%	ASEAN connectivity, trade banking and region-facing corporate links

UOB is smaller than DBS and OCBC by 2025 asset size, yet it still holds a clear place in Singapore banking.
Its real edge is not just domestic branch access. It is the way the bank links Singapore banking needs with
regional business movement across ASEAN. For users who value that corridor, UOB often enters the shortlist quickly.

FAQ

What Does UOB Stand for?

UOB stands for United Overseas Bank. The bank was originally founded as United Chinese Bank in 1935 and later adopted the UOB name in 1965.

Is UOB a Singapore Bank?

Yes. UOB is headquartered in Singapore and is one of the country’s three large local banking groups. Its main office is at
UOB Plaza, 80 Raffles Place.

Who Leads UOB?

UOB is led by Wee Ee Cheong, who serves as Deputy Chairman and Chief Executive Officer.

What Is UOB’s SWIFT Code in Singapore?

The standard SWIFT code used for UOB Singapore is UOVBSGSG. In some payment contexts, the extended BIC may appear as UOVBSGSGXXX.

How Can Foreigners Open a UOB Account in Singapore?

Foreigners usually need to visit a UOB branch. The bank commonly asks for an original passport, proof of residential address
and a valid pass document such as an Employment Pass, S Pass or Dependant Pass, depending on the case.

How Large Is UOB Compared with DBS and OCBC?

By FY2025 total assets, UOB was smaller than DBS and OCBC. Still, it remained a major Singapore bank with
S$572 billion in assets, a deep regional network and a strong position in cross-border commercial banking.