UOB to rake in robust results in next quarters

It's a powerhouse of 500 offices.

According to Phillip Securities, UOB Ltd provides a wide range of financial services including banking, insurance, and asset management. Its main operations are in Southeast Asia, including Singapore and Malaysia, with more than 500 offices in 19 countries and territories.

Here's more from Phillip Securities:

Since we upgraded UOB from Reduce to Accumulate on 8 Nov 2012, share price dipped marginally before rallying as per our expectations.

While the macro economy remains uncertain, we continue to expect UOB to deliver strong results for the next few quarters. Loans growth is expected to be moderate but
positive, mitigating the continued pressure on NIMs.

Fees and Commission are expected to grow rapidly, driven by strong transaction banking and wealth management performances. Geographically, contributions from UOB’s overseas subsidiaries are expected to increase.

UOB may also benefit from an improvement in the China economy, which may drive higher trade volumes and banking services between China and ASEAN, in which UOB has strong capabilities in.

For more banking stories, visit Asian Banking & Finance.

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