In 1935, Wee Kheng Chiang founded United Chinese Bank together with six partners after raising $1 million. At that time, it was established mainly to cater to the financial needs of the local Hokkien community in Singapore. In 1965, the bank changed its name to United Overseas Bank (UOB) and has kept its name ever since.
Today, UOB operates a global network of over 500 branches and offices in 19 countries worldwide. The bank is now the third largest financial services group in Southeast Asia (after DBS Group and OCBC) and is worth S$48.5 billion in market capitalization.
In this article, I’ll bring a quick overview of UOB’s performance over the past 10 years, the current risks it faces, and its outlook in the near future.
Here are 11 things you need to know about UOB before you invest:
1. UOB has a compound annual growth rate (CAGR) …