United Overseas Bank Limited · SGX:U11
United Overseas Bank — Debt Investor Presentation (May 2026)
48 slides from United Overseas Bank's debt investor presentation, May 2026
Slide 1: UOB Group: Steady performance driven by resilient core franchise
UOB Group Steady performance driven by resilient core franchise May 2026 Disclaimer: The mater ial in this presentation contains gener al background information about United Overseas Bank Lim ited (“UOB”) and its act ivit ies as at the d ate of the pre sentat ion. The informat ion is g iven in summa
Slide 2: Agenda
Agenda 1 Overview of UOB Group 2 Strong UOB Fundamentals Appendices A Macroeconomic Outlook B Sustainable and Other Developments C Latest Financials 2
Slide 3: 1. Overview of UOB Group
1. Overview of UOB Group 3
Slide 4: UOB Overview
UOB Overview Founding Key Statistics for 1Q26 Founded in August 1935 by a group of Chinese ■ Gross loans : SGD354b (USD274b1) businessmen and Datuk Wee Kheng Chiang, ■ Customer deposits : SGD427b (USD331b1) grandfather of the present UOB Group CEO, Mr. Wee ■ Loan / Deposit ratio : 81.9% Ee Cheong. ■
Slide 5: A leading Singapore bank; Established franchise in core market segments
A leading Singapore bank; Established franchise in core market segments Group Retail Group Wholesale Banking Global Markets ▪ Best Retail Bank in Singapore ▪ Best SME Bank in Singapore ▪ Strong player in Singapore dollar ▪ Strong player in credit cards and ▪ Seamless access to regional treasury inst
Slide 6: Proven track record of execution
Proven track record of execution ▪ UOB Group’s management has a proven track record in steering the Group through various global events and crises ▪ Stability of management team ensures consistent execution of strategies ▪ Disciplined management style which underpins the Group’s overall resilience a
Slide 7: Comprehensive regional banking franchise
Comprehensive regional banking franchise Extensive Regional Footprint 1Q26 performance by segment Myanmar Greater China1 Group Income 1 branch 20 branches Retail SGD198b2 Assets under Thailand 140 branches Vietnam 5 branches SGD1.3b management +5% YoY Malaysia Philippines -4% YoY 54 branches 1 branc
Slide 8: Comparison against peers
Comparison against peers Standalone Cost Returns Liquidity Strength Management Moody’s baseline Costs/income Return on average Loan/deposit Moody’s S&P Fitch credit assessment ratio assets (annualised) ratio Aa1 AA– AA– UOB a1 45% 1.0% 82% Aa1 AA– AA– OCBC a1 39% 1.4% 77% Aa1 AA– AA– DBS a1 39% 1.3%
Slide 9: Capital and leverage ratios
Capital and leverage ratios Reported Common Equity Tier 1 CAR 17.0% 16.9% 15.3% 15.1% 14.5% 14.3% 14.0% 13.7% 13.4% 12.7% 12.5% 12.3% 11.7% Fully-loaded 15.2% 14.8% 15.2% 1 1 1 2 2 Return on OCBC DBS UOB MBB TD CIMB HSBC RBC SCB Citi BOA CBA NAB Average Equity (annualised) 17.0% 13.0% 11.5% 11.7% 14
Slide 10: Why UOB?
Why UOB? Stable Integrated regional Strong Balance growth management platform fundamentals with stability • Proven track record • Truly regional bank • Strong Common Equity • More than half of Group’s in steering the bank with full ownership and Tier 1 capital adequacy earnings from home through var
Slide 11: 2. Strong UOB Fundamentals
2. Strong UOB Fundamentals 11
Slide 12: Disciplined balance sheet management
Disciplined balance sheet management Return on risk-weighted assets Focus on 2.16% 2.27% 2.07% Healthy 1.74% 1.75% balance portfolio FY22 FY23 FY24 FY25 1Q26 sheet quality efficiency Current Account Saving Account Balances (SGD b) 10.6% CAGR1 189 221 249 243 175 FY22 FY23 FY24 FY25 1Q26 Proactive Ro
Slide 13: Customer loans up 4% YoY, with modest QoQ growth
Customer loans up 4% YoY, with modest QoQ growth By Industry By Geography ($b) +4% +0% 5% 5% 341 343 351 352 354 Rest of the world 49 51 53 53 52 24% 25% Greater China 51 48 48 45 49 74 74 75 77 77 ASEAN-4 $354b Mar-26 Singapore 167 170 175 177 176 9% 9% Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 Note: Loan
Slide 14: Exposure to Greater China
Exposure to Greater China 2.3 2.1 1.9 1.2 1.6 General allowance on loans/Performing loans (%) 51 49 48 48 45 Customer Loans ($b) Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 NPL ratio (%) 2.7 2.7 3.1 3.3 3.5 NPA coverage (%) 47 57 78 60 57 Unsecured NPA coverage (%) 193 228 299 259 272 Note: Classification is
Slide 15: Exposure to United States
Exposure to United States 4.7 4.8 General allowance on 1.3 2.2 1.0 loans/Performing loans (%) 17 17 15 14 13 Customer Loans ($b) Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 NPL ratio (%) 3.7 4.2 4.0 3.0 1.5 NPA coverage (%) 93 67 69 106 233 Unsecured NPA coverage (%) 148 129 147 235 978 Note: Classification
Slide 16: Singapore mortgages remain a low-risk asset class
Singapore mortgages remain a low-risk asset class Low risk of housing bubbles due to cooling measures High national savings rate (% of GDP) (3Q15 = 100) US ,187 AU ,166 SG, 41 CA ,165 HK, 31 SG,153 CA, 23 HK,105 AU, 22 US, 18 2Q15 2Q17 3Q18 4Q19 1Q21 2Q22 3Q23 4Q24 1Q26 2021 2022 2023 2024 2025 2026
Slide 17: Strong investment grade credit ratings
Strong investment grade credit ratings A regular issuer in key debt capital markets globally Aa1 / P-1 AA– / A-1+ AA– / F1+ CNY Add Tier 1 (Baa1; BBB-; BBB+)1 SGD 8% 14% Debt Class AUD Covered Currency 14% 26% Tier 2 (Aaa; 32% AAA, 9% (A2; S$24b NR)1 BBB+; S$24b equivalent A)1 16% equivalent EUR 20%
Slide 18: Appendix A. Macroeconomic Outlook
Appendix A. Macroeconomic Outlook 18
Slide 19: ASEAN: Slower growth in 2026, Middle East conflicts weigh
ASEAN: Slower growth in 2026, Middle East conflicts weigh Supply Chain Shifts, Intra-Regional Trade, Infrastructure and Policy Support to Anchor Medium-Term Outlook ASEAN's contribution towards US and China’s total trade has risen 2025 GDP growth % share of US exports and imports % share of China’s
Slide 20: Global central banks navigate inflation risks, Fed on extended pause
Global central banks navigate inflation risks, Fed on extended pause 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26F 4Q26F 1Q27F US 10-Year Treasury 4.40 3.78 4.57 4.21 4.23 4.15 4.12 4.32 4.40 4.40 4.45 4.50 US Fed Funds 5.50 5.00 4.50 4.50 4.50 4.25 3.75 3.75 3.75 3.75 3.50 3.50 SG 3M SORA 3.64
Slide 21: Macro resilience across key Southeast Asian markets
Macro resilience across key Southeast Asian markets Significantly Higher Foreign Reserves (USD billion) Improved Current Account Balances (% of GDP) 419 280 15.6 16.7 148 127 75 30 24 26 1.6 3.1 Singapore Thailand Indonesia Malaysia –2.0 –1.5 –0.1 –5.4 Singapore Malaysia Thailand Indonesia Dec 1998
Slide 22: Capital adequacy rules across the region
Capital adequacy rules across the region BCBS Singapore Malaysia Thailand Indonesia Minimum CET1 CAR 4.5% 6.5%1 4.5% 4.5% 4.5% Minimum Tier 1 CAR 6.0% 8.0%1 6.0% 6.0% 6.0% Minimum Total CAR 8.0% 10.0%1 8.0% 8.5% 8.0% Capital Conservation Buffer 2.5% 2.5% 2.5% 2.5% 2.5% Countercyclical Buffer 2 n/a 0
Slide 23: Appendix B. Sustainable and Other Developments
Appendix B. Sustainable and Other Developments 23
Slide 24: UOB's responsible financing journey
UOB’s responsible financing journey: pragmatic and progressive Establishing Improving Strengthening 2015 – 2016 2017 – 2018 2019 – 2022 2023 – 2025 • Launched the Group • Enhanced ESG • Announced our net zero commitment. • Completed the design of a net zero Responsible Financing monitoring and Stren
Slide 25: UOB's Climate Scenario Analysis Journey
UOB’s Climate Scenario Analysis Journey Qualitative Transition Risk Transition Risk Scenario Physical Risk Pilot Analysis Improved Methodology Assessment Analysis Pilot 2019 2020 2021 2022-2025 • Completed qualitative • Partnered an • Conducted a pilot physical risk analysis • Developed an improved
Slide 26: Net zero by 2050 commitment with focus on 6 priority sectors
In October 2022, we announced our commitment to achieving net zero by 2050, with a focus on 6 priority sectors Energy Built environment Net zero targets and commitments for six sectors We focused on two significant, high-emitting ecosystems, energy and built environment, spanning 6 sectors based on:
Slide 27: Progressing well on net zero targets
We are progressing well on our net zero targets, and are trending below the reference pathways 27
Slide 28: Nature risks: low to medium risk portfolio
Nature risks: Our portfolio has low to medium risk, with ~20% estimated to have material impacts and/or dependencies on nature • UOB’s overall portfolio has low to medium risk based on direct sector scores • 5 sub-sectors with material impacts and/or dependencies on nature (~20% of exposure) • Agric
Slide 29: Nature opportunities in sustainable finance portfolio
Nature opportunities: ~60% of our sustainable finance portfolio is focused on the nature-climate nexus 29
Slide 30: AI at UOB: Augmented Intelligence, Accelerating Innovation
AI at UOB: Augmented Intelligence, Accelerating Innovation Our Approach • AI as enabler: Augment productivity, improve client engagement, drive revenue, strengthen risk controls • Depth & ROI: Focus on fewer, high-conviction GenAI use cases with clear outcomes • Reimagine, not only automate: Redesig
Slide 31: Appendix C. Latest Financials
Appendix C. Latest Financials 31
Slide 32: Key Highlights This Quarter
Key Highlights This Quarter Steady performance with net profit at $1.4 billion, underscored by a diversified and resilient franchise • Group Retail (GR) saw steady growth in CASA (+10% YoY), wealth income (+6% YoY) and card billings (+7% YoY) • Group Wholesale Banking (GWB) delivered double-digit gr
Slide 33: 1Q26 net profit at $1.4 billion
1Q26 net profit at $1.4 billion Supported by resilient franchise amid market volatility 1Q26 4Q25 QoQ 1Q25 YoY $m $m +/(-)% $m +/(-)% Net interest income 2,324 2,346 (1) 2,409 (4) Net fee income 637 625 2 694 (8) Other non-interest income 462 319 45 554 (17) Total income 3,422 3,289 4 3,657 (6) Less
Slide 34: 1Q26 financial overview
1Q26 financial overview Net Profit After Tax Movement, 1Q26 vs 4Q25 (SGD m) 143 4 91 12 8 22 12 1 1,410 +2% 1,437 –1% +2% +45% –0% +81% –35% +3% 4Q25 net Net interest Net fee and Other non- Operating Total Share of profit Tax, 1Q26 net profit after tax income commission interest expenses allowances
Slide 35: Group Retail
Group Retail Selected income statement data 1Q26 1Q25 YoY Highlights $m $m % • PBT moderated by declining rates and market competition. Increased credit Income 1,288 1,336 (4) costs was in line with asset growth, while portfolio quality remained healthy. Lending, Deposits1 721 813 (11) Wealth 342 32
Slide 36: Group Wholesale Banking
Group Wholesale Banking Selected income statement data Highlights 1Q26 1Q25 YoY • PBT reflected lower rates backdrop alongside continued demand for high quality $m $m % Income 1,470 1,685 (13) assets, while portfolio quality was stable Transaction Banking 684 834 (18) • Close to half of GWB income c
Slide 37: Global Markets
Global Markets Record-high income driven by broad-based treasury demand, as well as liquidity and trading opportunities Total income ($m) +19% +39% 658 623 555 526 474 319 364 Treasury Non-Customer 284 247 214 Treasury Customer1 272 279 303 260 294 1Q25 2Q25 3Q25 4Q25 1Q26 Total Assets2 ($b) 142 143
Slide 38: Net interest income eased due to a shorter quarter
Net interest income eased due to a shorter quarter, while day-adjusted income grew 1% on asset growth 2.40 Loan Margin (%) 2.27 2.17 2.16 2.12 Net Interest Margin (%) 2.00 1.91 1.82 1.84 1.82 Interbank & Securities Margin (%) 1.16 1.16 1.16 1.14 1.14 -1% 2,409 2,336 2,346 2,265 2,324 NII from Interb
Slide 39: Rate pressures moderated through active funding cost management
Rate pressures moderated through active funding cost management Loan Margin (%) 2.40 2.17 2.16 Interbank & Securities 1.14 1.14 Margin (%) Net Interest Margin (%) 1.84 1.82 -0.02 -0.14 0.15 4Q25 Asset Funding Volume/Mix 1Q26 repricing cost SGD +0.03 | 3M SORA average -0.16 HKD -0.02 | 1M HIBOR avera
Slide 40: Gross fees supported by higher capital market activities
Gross fees supported by higher capital market activities and sustained wealth momentum +1% 896 892 847 857 Others ($m) 90 829 96 100 98 82 Credit Card ($m) 281 296 284 284 321 Wealth ($m) 213 218 188 219 203 Loan / Trade Related ($m) 312 274 282 256 223 1Q25 2Q25 3Q25 4Q25 1Q26 Note: Above fees are
Slide 41: Stable cost base supported by investment discipline
Stable cost base supported by investment discipline 45.2 46.4 44.3 44.5 42.6 Cost-to-income Ratio (%) 1,559 1,535 1,535 1,528 1,523 Other expenses1 ($m) 361 397 426 424 353 IT-related expenses ($m) 253 259 280 290 333 Staff costs ($m) 945 880 890 818 771 1Q25 2Q25 3Q25 4Q25 1Q26 1. Includes revenue-
Slide 42: NPL ratio unchanged at 1.5%
NPL ratio unchanged at 1.5% 1.6 1.6 1.6 1.5 1.5 NPL ratio (%) Non-Performing 5,809 Assets 5,361 5,386 5,440 5,276 914 ($m) Rest of the world 609 736 739 461 Greater China 1,387 1,330 1,509 1,498 1,730 ASEAN-4 2,440 2,441 2,503 2,313 2,253 Singapore 925 879 883 890 832 1Q25 2Q25 3Q25 4Q25 1Q26 Non-in
Slide 43: Total credit costs within expectations at 26bps
Total credit costs within expectations at 26bps 134 35 32 Total credit costs (bps) 55 26 29 Specific credit costs (bps) 32 26 19 19 1,166 687 290 274 1 172 231 General allowance on loans ($m) 133 479 273 231 249 Specific allowance on loans ($m) 156 (59) (18) 1Q25 2Q25 3Q25 4Q25 1Q26 43
Slide 44: Stable and adequate provision coverage
Stable and adequate provision coverage 30 30 30 Specific allowance/NPA (%) 26 24 General allowance on loans include 0.8 0.8 1.0 1.0 1.0 RLAR/Performing loans (%) 5,787 379 5,268 5,251 4,829 4,765 379 379 RLAR ($m) 379 379 3,664 General allowance ($m) 2,833 2,776 3,557 3,506 Specific allowance ($m) 1
Slide 45: Liquidity and Funding Strength Maintained
Liquidity and Funding Strength Maintained 143 147 144 143 141 All-currency LCR (%) 116 118 116 116 115 Net Stable Fund Ratio (NSFR) (%) 84.0 83.7 82.5 81.7 81.9 Loan/Deposit Ratio (LDR) (%) 487 502 501 467 465 67 76 75 Wholesale Funding ($b) 1 66 60 180 177 183 FD & others ($b) 180 176 CASA ($b) 221
Slide 46: Strong capital position underpinned by healthy CET1 of 15.3%
Strong capital position underpinned by healthy CET1 of 15.3% 15.5 15.3 CET1 ratio (%) 15.3 14.6 15.1 CET1 ratio (%) – Fully Loaded 15.4 15.2 15.1 14.5 14.9 269 273 276 278 266 RWA ($b) Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 Leverage ratio (%) 7.3 7.1 6.6 6.7 7.0 46
Slide 47: Dividends and share buyback for sustainable shareholder returns
Dividends and share buyback for sustainable shareholder returns Core Payout 1 49 50 50 50 ratio (%) Dividend per ordinary share (¢) Share Buyback2 205 Returning $2 billion surplus capital to shareholders 25 181 Special 170 25 Shares Number of Programme 135 repurchased shares Utilisation 85 92 71 Fin
Slide 48: Right By You
@ Right By You
United Overseas Bank — Debt Investor Presentation (May 2026) on 6ix