UOB is looking to grow in western China and opened a branch in the southwestern city of Chongqing in September Perhaps more important, however, Wee made a personal visit to George Lien Ying Chow, the aging founder and chairman of family-owned Overseas Union--proposing a "merger" that would allow Lien to save face.
In all, the company operates more than offices worldwide. The GR segment provides customers with financial solutions. Despite its resistance to local consolidation, UOB found its hand forced in An example of that is the issuance of credit cards.
James Press, While Singaporean banks may appear to be conservative against the big multinational banks, analysts say they are as aggressive as most of the Malaysian anchor banks.
The GM segment manages the bank's liquidity, investments, and market making financial instruments. See more articles on United Overseas Bank Ltd.
During the decade, UOB began to position itself for the future, as the Singapore government began placing increasing pressure on the country's five largest banks--including state-owned DBS and Keppel Tatlee, the number one and four banks, respectively, and privately held Overseas Union Bank and Overseas-Chinese Banking Corporation OCBC --to consolidate.
Wee later acknowledged, however, that he would have pursued the takeover even without Lien's approval.
During the s, United Overseas Bank launched its own growth drive through a series of targeted acquisitions. By then, the bank had launched a streamlining effort. It has 22 Branches and 30 ATMs in the island state.