United Overseas Banks Limited (UOB) is a leading bank in Asia with a global network of more than 500 branches and offices in 19 countries and territories in Asia-Pacific, Europe, and North America. As of 31 December 2017, UOB has a total asset of $359 billion.
Chairman Emeritus Wee Cho Yaw stepped down as a director after being at the helm of UOB for six decades. He believes that the management will continue to remain prudent in steering the bank forward and act in the long-term interest of shareholders. Along with Mr Wee, Hsieh Fu Hua also stepped down as non-executive chairman of UOB and succeeded by former deputy prime minister Mr Wong Kan Seng.
Here are six things I learned from attending UOB’s 2018 AGM:
1. Revenue increased 10% from $8.1 billion in 2016 to $8.9 billion in 2017. Net interest income increased 11% to S$5.5 …