United Overseas Bank's 1Q Result Strong as Expected; More Shareholder Returns on the Horizon
Similar to peer DBS Group, narrow-moat United Oversea Bank, or UOB, reported a strong first-quarter fiscal 2018. A strong quarter was expected for the banks, as economic conditions are improving and the higher U.S. interest rate is finally translating into a sustainable increase in interbank rates. With the pro forma common equity Tier 1 ratio improving by 20 basis points to 14.9%, risk-weighted assets tracking in line with total asset growth, and a lower-than-expected special dividend at the en...United Overseas Bank is bank in Asia with a network of offices in 19 countries and territories in Asia Pacific, Western Europe and North America. Co. provides a range of financial services including personal financial services, private banking, business banking, commercial and corporate banking, transaction banking, investment banking, corporate finance, capital market activities, treasury services, brokerage and clearing services, asset management, venture capital management and insurance. Co. operates within three main operating segments: Group Retail, Group Wholesale, and Global Markets and Investment Management. As of Dec 31 2014, Co. had total assets of S$306.74 billion.
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