United Overseas Bank (abbreviation: UOB) Is A Multinational Bank Headquartered In Singapore, With Branches Located In South East Asia. Founded In Singapore In 1935 By Sarawak Businessperson Huang Qingchang And Other Chinese Businesspeople, UOBank Currently Has 68 Branches In Singapore, Hundreds Of Locations In Thailand And Indonesia, And More Than 500 Branches And Offices In 19 Countries And Regions In Asia Pacific, Western Europe And North America. In Terms Of Total Asset Value, UOB Is The Third Largest Bank In South East Asia.
History
The United Overseas Bank Building Was The Headquarters Of The Bank, Divided Into Two Buildings And Connected By Podium Buildings
On August 6, 1935, Huang Qingchang, A Chinese Businessperson, And Six Of His Friends Raised 1 Million Rupees To Establish United Overseas Bank. The Name Of United Overseas Bank Is Used To Emphasize The Purpose Of Connecting The Local Chinese. The English Name Of The Bank Is United Chinese Bank. In October 1935, United Overseas Bank Officially Opened In Montgham Building In Raffles Place. In 1965, United Overseas Bank Established Its First Overseas Branch In Hong Kong. In The Same Year, It Was Changed To United Overseas Bank Because The English Name Was The Same As That Of United Bank Of China In Hong Kong.
In 1970, United Overseas Bank Was Listed On The Malaysian Stock Exchange. After Its Listing, United Overseas Bank Carried Out A Series Of Acquisition Plans. In 1971, United Overseas Bank Acquired Chongqiao Bank, Which Increased The Number Of Branches In Singapore And Expanded Its Business In Malaysia And Hong Kong. In 1973, United Overseas Bank Also Acquired Lever Bank, Which Was Engaged In Banking In Malaysia And Singapore. In The Same Year, United Overseas Bank Built A 30-storey Office Building On The Original Site Of Montgham Tower And Named It The United Overseas Bank Building (now United Overseas Bank Building 2). Subsequently, United Overseas Bank Acquired Far East Bank, Westmoor Bank Of The Philippines And Huibao Bank Of Thailand In 1984 And 1999 Respectively. Subsequently, United Overseas Bank Acquired Hualian Bank For US $10 Billion In 2001.
In 2000, United Overseas Bank's Subsidiary United Overseas Bank Securities Brokerage Company And Kay Hian Holdings Merged To Form United Overseas Bank Kay Hian.
In 2002, United Overseas Bank Established A Branch In Shanghai, China, And Upgraded Its Beijing Office To A Branch To Expand The Chinese Market.
On January 14, 2022, United Overseas Bank, A Branch In Malaysia, Successfully Acquired Citigroup Of Malaysia. With The Approval Of Bank Negara Malaysia On September 14, 2022, It Will Apply To High Court For An Asset Transfer Order To Transfer Citi's Consumer Banking Assets And Liabilities To United Overseas Bank Malaysia.
Australia
In 1986, United Overseas Bank Established Its First Branch In Australia At The MLC Centre In Sydney. United Overseas Bank Also Has Offices In Melbourne And Brisbane And Provides Commercial Banking Services, Including Current Accounts, Deposits, Loans, Asset Finance, Trade Finance, Structured Finance, Cash Management And Cross-border Transfers.
Brunei
The Business Of United Overseas Bank In Brunei Was Originally Established By Hualian Bank In 1974. In January 2002, After Hualian Bank Was Acquired By United Overseas Bank, United Overseas Bank Took Over The Business Of Hualian Bank In Brunei. On October 1, 2005, United Overseas Bank Relocated Its Branch In Bandar Seri Begawan. In 2015, United Overseas Bank Sold Its Brunei Retail Banking Business To Bandurai Bank For US $65.044 Million. Before The Acquisition, Bandurai Bank Was Responsible For The Asset Management Business Of United Overseas Bank In Brunei And Provided Investment Management Experience To Individuals, Groups And Companies.
Chinese Mainland
United Overseas Bank Established Its First Office In The Chinese Mainland In Beijing In 1984. On December 18, 2007, United Overseas Bank (China) Was Established In Shanghai. United Overseas Bank Has 17 Branches Or Sub-branches In The Chinese Mainland, Located In Major Cities Such As Shanghai, Beijing, Shenyang, Shenzhen, Tianjin, Xiamen, Hangzhou, Chengdu, Guangzhou, Suzhou, Chongqing And Kunming, Providing Retail And Wholesale Banking Services. July 16, 2019 Shenneng Group And United Overseas Bank Jointly Established "Shenneng Consumer Finance Co., Ltd." In Shanghai. The Initial Registered Capital Of The Joint Venture Is 500 Million Yuan. Shenneng Group And United Overseas Bank Hold 80.1% And 19.9% Of The Shares Respectively.
Hong Kong
United Overseas Bank Established Its First Overseas Branch In Hong Kong In 1965, Mainly Engaged In Trade Finance And Corporate Banking. United Overseas Bank Has 3 Branches In Hong Kong, The Largest Of Which Provides Comprehensive Personal And Corporate Banking Services.
Taiwan
United Overseas Bank Established A Taiwan Office In 1992 And Upgraded To A Branch In 1995. The Taipei Branch Is Currently Located At Cathay Pacific Land Plaza.
Japan
United Overseas Bank (Japan) Was Established In December 1972 And Provides Wholesale Services Including Corporate Banking, Debt Securities Investment, Treasury, Trade Finance, Current Accounts And Note Transactions. United Overseas Bank Has 1 Branch In Tokyo. When United Overseas Bank Acquired OUB In 2002, The Bank's Operations In Tokyo Were Also Consolidated In 2002.
Myanmar
United Overseas Bank Opened A Yangon Branch In Myanmar On May 4, 2015.
Mobile Banking Services
In December 2011, United Overseas Bank Launched A Free Mobile Phone App That Allows All United Overseas Bank Customers To Send Money To All Recipients Who Can Withdraw Money At United Overseas Bank ATMs. The App Was Originally Released Only On The Apple App Store, And Has Since Been Available To Android And BlackBerry Users.
