UOB's robust business banking to offset retail banking dip

Regional markets will also drive growth.

UOB will lean on its business banking segment and regional markets for growth in the near-term future as its retail banking segment faces some tough hurdles, said OCBC Investment Research in a comment after UOB released its latest, and notably impressive, 3Q results.

Specifically for Singapore, OCBC predicted: "While retail banking could be challenging, especially on the mortgage loans front due to Singapore property measures, this is likely to be mitigated by its business banking."

Meanwhile for regional markets: "While there were recent pockets of uncertainties in two of its key regional markets, we do not expect these events to have long-term effect on its regional franchise. We expect regional trades to lead to still healthy transactional banking activities. Overall group performance will also be aided by its consistently prudent cost management (cost-to-income ratio came off QoQ in 3Q)."

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