Singapore’s UOB looking at North Asia opportunities as wealth earnings jump
Singapore’s United Overseas Bank (UOB) (UOBH.SI), opens new tab reported a 40% surge in wealth management income during the second quarter and said it was looking at opportunities in North Asia such as in China and Hong Kong to bolster the business.
Like other Singaporean banks, UOB has benefited from strong inflows of wealth into Asia due to the country’s political stability, low taxes and policies favourable towards family offices and trusts.
Source: REUTER