SINGAPORE — Singapore’s United Overseas Bank, or UOB, is aiming to double its wealth income by 2030, the lender’s chief executive officer said on Thursday, as it looks to strengthen its wealth arm as a key pillar of growth in the coming years.
“For this year, the next few quarters, you will start to see the wealth business picking up, because we are focusing on doubling our wealth,” Wee Ee Cheong, who is also the bank’s deputy chairman, said at its first-quarter results briefing. UOB posted a 4-percent annual fall in first-quarter net profit, beating expectations.
The lender did not provide a specific target, though it used 2025 as a base.