United Overseas Bank

United Overseas Bank Limited

Type	Holding company (Public limited company)
Traded as	SGX: U11 OTC Pink: UOVEY
Industry	Investment banking, Financial services
Founded	August 6, 1935
Founder	Wee Kheng Chiang
Headquarters	Raffles Place, Singapore
Number of locations	500 offices across 19 countries[1]
Area served	Worldwide
Key people	Wee Cho Yaw (Chairman) Wee Ee Cheong (Chief Executive Officer)
Net income	S$2.569.000.000 (2006)
Number of employees	12,142
Slogan	"United for Growth"
Website	www.uobgroup.com

United Overseas Bank's main branch, located at the scenic UOB Plaza

United Overseas Bank Limited (commonly known as UOB; previously known as United Chinese Bank or UCB; simplified Chinese: 大华银行有限公司; traditional Chinese: 大華銀行有限公司; pinyin: Dàhuá Yínháng Yǒuxìan Gōngsī; is a major banking organisation headquartered in Singapore, with branches mostly found in most South-east Asian countries. Founded in 1935 by Sarawak businessman Wee Kheng Chiang, the bank has 68 branches in Singapore and a network of more than 500 offices in 19 countries and territories in Asia Pacific, Western Europe and North America^[1]

Timeline

Establishment

On August 6, 1935, businessman Wee Kheng Chiang, together with six other friends, established United Chinese Bank (UCB). On October 1935, UCB opened for business in the three story Bonham Building. Thirty years later, the company's name was changed to United Overseas Bank.^[2]

Acquisitions

In 1973, UOB acquired Lee Wah Bank. In 1984, the company acquired Far Eastern Bank. In 2001, UOB acquired Overseas Union Bank Limited (OUB) in a takeover deal estimated to be worth S$10 billion.

Key people

In August 2012, Wee Cho Yaw, the company's chairman and the son of the company's founder, announced his plans to step down in 2013.^[3] Wee will be replaced by Hsieh Fu Hua, the former Chief Executive Officer of Singapore Exchange.^[3]

Mobile banking

In December 2011, United Overseas Bank launched its free mobile UOB Mobile application. Mobile Cash, a key feature of this application, allows all UOB customers to send cash to any registered recipient who can withdraw the money from more than 600 UOB ATMs in Singapore. Initially only available on the Apple Appstore, the application soon became available to users of Android and Blackberry smartphones.^[4]

Controversies

In February 2012, several employees of United Overseas Bank came under fire for dressing up in traditional Bollywood themed Indian costumes and painting their faces using SAF camo green during a staff dinner organised by the company. A spokesman for the bank said that the employees did not intend to offend or discriminate, although he also mentioned that they would be counselled.^[5]

Subsidiary banks

• Far Eastern Bank (Singapore)
• Overseas Union Bank (Singapore)
• Lee Wah Bank (Singapore)

See also

• UOB Plaza
• List of banks in Singapore

References

External links

Wikimedia Commons has media related to United Overseas Bank.

• UOB Group

Banking in Singapore List of banks in Singapore Ministry of Finance Monetary Authority of Singapore Local banks Bank of Singapore1 DBS Bank POSB Bank3 Far Eastern Bank2 The Islamic Bank of Asia3 Oversea-Chinese Banking Corporation Singapore Island Bank1 United Overseas Bank Foreign banks Qualifying full banks ANZ Bank of China BNP Paribas Citibank Singapore HSBC Bank ICICI Bank Industrial and Commercial Bank of China Maybank Standard Chartered State Bank of India Full banks Bangkok Bank Bank Negara Indonesia Bank of America Bank of East Asia Bank of India Bank of Tokyo-Mitsubishi UFJ CIMB Bank Citibank N.A. Crédit Agricole Corporate and Investment Bank Hong Leong Bank Indian Bank Indian Overseas Bank JPMorgan Chase Mizuho Corporate Bank RHB Bank Sumitomo Mitsui Banking Corporation UCO Bank Wholesale banks ABN Amro Agricultural Bank of China Banco Bilbao Vizcaya Argentaria Banco Santander Bank Julius Baer Bank Morgan Stanley Bank of Communications Bank of Nova Scotia Barclays Bank BNP Paribas Wealth Management China CITIC Bank China Construction Bank Chinatrust Commercial Bank Commerzbank Commonwealth Bank of Australia Credit Industriel et Commercial Credit Suisse Deutsche Bank DnB NOR Bank DZ Bank AG Singapore Branch Emirates NBD First Commercial Bank First Gulf Bank Habib Bank HSBC Private Bank (Suisse) ING Bank KBC Bank Korea Exchange Bank Landesbank Baden-Wuerttemberg Macquarie Bank Mega International Commercial Bank National Australia Bank National Bank of Kuwait Natixis Norddeutsche Landesbank Northern Trust Company Portigon Qatar National Bank Rabobank Royal Bank of Scotland Societe Generale Societe Generale Bank & Trust State Street Bank and Trust Company UBS UniCredit Bank VTB Capital Wells Fargo Bank Westpac Offshore banks Arab Bank Bank Hapoalim Bank of Baroda Bank Mandiri Bank of New York Mellon Bank of Taiwan Bank Sarasin & CIE Banque Internationale a Luxembourg Canadian Imperial Bank of Commerce Chang Hwa Commercial Bank Clearstream Banking Credit Agricole Hana Bank Hang Seng Bank HSH Nordbank Hua Nan Commercial Bank Korea Development Bank Krung Thai Bank Land Bank of Taiwan Lloyds Bank Mitsubishi UFJ Trust and Banking Corporation Nordea Bank Finland Norinchukin Bank, The Philippine National Bank Raiffeisen Bank International Royal Bank of Canada Shinhan Bank Siam Commercial Bank Skandinaviska Enskilda Banken Standard Bank Sumitomo Mitsui Trust Bank Svenska Handelsbanken Toronto Dominion Bank Union de Banques Arabes et Francaises Woori Bank Interbank networks and payment systems atm5 NETS EZ-Link 1 Subsidiary of OCBC Bank. 2 Operates under UOB's brand name. 3 Subsidiary of DBS Bank.

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