United Overseas Bank Limited · SGX:U11
United Overseas Bank — 3Q25 Earnings Presentation
53 slides from United Overseas Bank's earnings presentation, November 2025
Slide 1: UOB Group: Resilient performance with sustained franchise growth
UOB Group Resilient performance with sustained franchise growth November 2025 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
Slide 2: Agenda
Agenda 1 Key Highlights This Quarter 2 Latest Financials 3 Overview of UOB Group 4 Macroeconomic Outlook 5 Strong UOB Fundamentals 5 Our Growth Drivers 2 ## RESTRICTED ##
Slide 3: Key Highlights This Quarter
Key Highlights This Quarter Resilient 3Q25 operating profit at $1.9 billion, with continued franchise growth • Group Retail delivered a robust performance, with CASA growing 19% YoY and 9M25 wealth income rising 15% YoY, driven by 8% YoY AUM growth and 41% of AUM being invested. Our customer base gr
Slide 4: Latest Financials
Latest Financials 4 ## RESTRICTED ##
Slide 5: 3Q25 net profit at $0.4 billion
3Q25 net profit at $0.4 billion Franchise strength maintained, though profitability affected by pre-emptive provisioning 9M25 9M24 YoY 3Q25 2Q25 QoQ 3Q24 YoY $m $m +/(-)% $m $m +/(-)% $m +/(-)% Net interest income 7,009 7,223 (3) 2,265 2,336 (3) 2,460 (8) Net fee income 1,945 1,828 6 615 636 (3) 630
Slide 6: 9M25 financial overview
9M25 financial overview Net Profit After Tax Movement, 9M25 vs 9M24 (SGD m) 213 117 216 101 1,231 38 230 4,522 -28% 3,271 –3% +6% –12% –2% >100% –46% –24% 9M24 net Net interest Net fee and Other non- Operating Total Share of profit Tax, 9M25 net profit after tax income commission interest expenses a
Slide 7: Group Retail
Group Retail Selected income statement data Highlights 9M25 9M24 YoY $m $m % • PBT was stable as lower income was offset by the roll-off of one-time expenses, Income 3,813 4,119 (7) while credit costs improved after the operational merger in Thailand Lending, Deposits1 2,263 2,666 (15) • Concerted e
Slide 8: Group Wholesale Banking
Group Wholesale Banking Selected income statement data 9M25 9M24 YoY Highlights $m $m % • Profit moderated as allowance was set aside in 3Q25 in response to evolving Income 4,815 5,135 (6) macroeconomic and credit conditions in selected markets and sectors. Transaction Banking 2,322 2,772 (16) • Des
Slide 9: Global Markets
Global Markets Continue to deliver strong customer flows with 3Q25 second highest on record Total income ($m) 1,705 1,401 849 Treasury Non-Customer 581 614 623 556 526 311 374 319 855 284 247 Treasury Customer1 820 123 304 251 272 280 303 9M24 9M25 3Q24 4Q24 1Q25 2Q25 3Q25 Total Assets2 ($b) 155 154
Slide 10: Net interest income moderated, supported by asset growth
Net interest income moderated, supported by asset growth that offset the impact of sharp benchmark rates decline 2.56 2.48 2.51 2.40 Loan Margin (%) 2.26 2.27 2.12 Net Interest Margin (%) 2.04 2.05 2.00 2.00 1.91 1.91 1.82 Interbank & Securities Margin (%) 1.07 1.16 1.16 1.16 1.16 0.98 1.01 -3% 7,22
Slide 11: Net interest margin eased on asset repricing mitigated by improved funding management
Net interest margin eased on asset repricing mitigated by improved funding management Loan Margin (%) 2.40 2.27 2.12 Interbank & Securities 1.16 1.16 Margin (%) Net Interest Margin (%) 1.91 1.82 -0.25 0.16 2Q25 Asset Funding 3Q25 repricing cost SGD -0.06 | 3M SORA average -0.60 HKD -0.02 | 1M HIBOR
Slide 12: 3Q25 fee income lifted by improved market sentiment
3Q25 fee income lifted by improved market sentiment +10% 2,616 2,372 268 Others ($m) 272 861 +8% Credit Card ($m) 802 896 892 812 90 829 96 784 89 82 91 619 281 296 Wealth ($m) 519 276 284 304 213 218 183 188 178 778 868 Loan / Trade Related ($m) 265 312 274 282 210 9M24 9M25 3Q24 4Q24 1Q25 2Q25 3Q2
Slide 13: 9M25 expenses lower on tighter cost management
9M25 expenses lower on tighter cost management 45.6 44.3 45.2 43.7 44.0 42.4 42.6 Cost-to-income Ratio (%) 4,730 4,629 Other expenses1 ($m) 1,153 1,184 IT-related expenses ($m) 790 803 1,626 1,579 1,559 1,535 1,535 377 401 361 397 426 262 253 267 259 290 Staff costs ($m) 2,788 2,643 986 912 945 880
Slide 14: NPL ratio unchanged at 1.6%
NPL ratio unchanged at 1.6% 1.5 1.5 1.6 1.6 1.6 NPL ratio (%) Non-Performing 5,809 Assets 5,361 5,386 5,055 5,210 914 ($m) 619 609 736 Rest of the world 445 Greater China 1,001 1,101 1,387 1,330 1,509 ASEAN-4 2,522 2,469 2,440 2,441 2,503 Singapore 1,087 1,021 925 879 883 3Q24 4Q24 1Q25 2Q25 3Q25 No
Slide 15: Proactive measures to strengthen provision coverage
Proactive measures to strengthen provision coverage Stronger Coverage Pre-emptive General NPA coverage general Provision ▪ Portfolio review amid ongoing provision Coverage1 macroeconomic uncertainties and sector-specific headwinds 100% (2Q25 : 88%) ▪ Stronger buffer for potential valuation adjustmen
Slide 16: Credit costs elevated by pre-emptive allowances
Credit costs elevated by pre-emptive allowances 134 68 36 52 55 Total credit costs (bps) 27 35 36 32 Specific credit costs (bps) 26 34 25 32 1,729 19 1,166 821 687 661 General allowance on loans ($m) 37 212 908 281 290 274 Specific allowance on loans ($m) 624 1 479 439 133 296 273 156 (15) (227) 9M2
Slide 17: Pre-emptive provisioning to strengthen general allowance coverage to 1%
Pre-emptive provisioning to strengthen general allowance coverage to 1% of performing loans 33 Specific allowance/NPA (%) 32 30 30 30 General allowance on loans include 0.9 0.8 0.8 0.8 1.0 RLAR/Performing loans (%) 5,787 5,026 379 4,764 4,829 4,765 RLAR ($m) 379 379 379 379 3,664 General allowance (
Slide 18: Greater China
Greater China 2.3 1.2 1.6 General allowance on 0.8 1.0 loans/Performing loans (%) 52 51 49 48 48 Customer Loans ($b) Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 NPL ratio (%) 2.0 2.1 2.7 2.7 3.1 NPA coverage (%) 57 48 47 57 78 Unsecured NPA coverage (%) 149 144 193 228 299 Note: Classification is according t
Slide 19: United States
United States 2.2 1.3 1.0 General allowance on 0.4 0.8 loans/Performing loans (%) 17 14 14 14 13 Customer Loans ($b) Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 NPL ratio (%) 2.4 3.6 3.7 4.2 4.0 NPA coverage (%) 45 81 93 67 69 Unsecured NPA coverage (%) 136 128 148 129 147 Note: Classification is according t
Slide 20: Strong liquidity and funding base with continued CASA growth
Strong liquidity and funding base with continued CASA growth 141 143 143 141 143 All-currency LCR (%) 116 116 116 118 116 Net Stable Fund Ratio (NSFR) (%) 82.3 82.7 84.0 83.7 82.5 Loan/Deposit Ratio (LDR) (%) 470 468 487 467 465 70 64 66 60 67 Wholesale Funding ($b) 1 FD & others ($b) 183 180 176 18
Slide 21: Healthy CET1 ratio at 14.6% following dividend payout
Healthy CET1 ratio at 14.6% following dividend payout CET1 ratio (%) 15.5 15.5 15.5 15.3 14.6 CET1 ratio (%) – Fully Loaded 15.2 15.4 15.4 15.1 14.5 269 266 273 252 260 RWA ($b) Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 Leverage ratio (%) 6.8 6.9 7.3 7.1 6.6 21
Slide 22: Delivering long-term and sustainable returns
Delivering long-term and sustainable returns Payout ratio Capital Distribution Package (%) 49 50 50 50 $3 billion Dividend per 50 cents ordinary share (¢) Special Dividend in 2025 ▪ $0.4b in May 2025 180 ▪ $0.4b in Aug 2025 170 135 92 Final 85 $2 billion 75 85 Share Buyback by 2027 ▪ $255m or 13% co
Slide 23: Overview of UOB Group
Overview of UOB Group 23 ## RESTRICTED ##
Slide 24: UOB Overview
UOB Overview Founding Key Statistics for 9M25 Founded in August 1935 by a group of Chinese ■ Gross loans : SGD351b (USD272b1) businessmen and Datuk Wee Kheng Chiang, ■ Customer deposits : SGD420b (USD325b1) grandfather of the present UOB Group CEO, Mr. Wee ■ Loan / Deposit ratio : 82.5% Ee Cheong. ■
Slide 25: 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 26: 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 27: Comprehensive regional banking franchise
Comprehensive regional banking franchise Extensive Regional Footprint 9M25 performance by segment Myanmar Greater China1 Group Income 1 branch 20 branches Retail SGD199b2 Assets under Thailand 140 branches Vietnam 5 branches SGD3.8b management +8% YoY Malaysia Philippines -7% YoY 54 branches 1 branc
Slide 28: 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 29: Macroeconomic Outlook
Macroeconomic Outlook 29 ## RESTRICTED ##
Slide 30: ASEAN: Navigating US Tariff Risks Amid Slowing Growth
ASEAN: Navigating US Tariff Risks Amid Slowing Growth 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 2024 GDP growth % share of US exports and imports % share of China’s expo
Slide 31: After two 25-bps cuts, we still expect another Fed rate cut in Dec-25
After two 25-bps cuts, we still expect another Fed rate cut in Dec-25 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25F 1Q26F 2Q26F 3Q26F US 10-Year Treasury 3.88 4.20 4.40 3.78 4.57 4.21 4.23 4.15 4.00 3.90 3.90 4.00 US Fed Funds 5.50 5.50 5.50 5.00 4.50 4.50 4.50 4.25 3.75 3.75 3.50 3.25 SG 3M SORA 3.
Slide 32: 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) 393 17.5 273 15.6 149 124 75 30 24 26 1.4 2.5 Singapore Thailand Indonesia Malaysia –2.0 –1.5 –0.6 –5.4 Singapore Malaysia Thailand Indonesia Dec 1998
Slide 33: 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) (2Q15 = 100) US ,191 CA ,173 SG, 39 AU ,161 HK, 28 SG,149 CA, 22 AU, 22 HK,97 US, 17 2Q15 4Q16 1Q18 2Q19 3Q20 4Q21 1Q23 2Q24 3Q25 2020 2021 2022 2023 2024 2025F
Slide 34: Singapore has implemented Basel IV
Singapore has implemented Basel IV5 Year ’13 ’14 ’15 ’16 ’17 ’18 ’19 ’20 ’21 ’22 ’23 ’24 ’25 ’26 ’27 Basel III capital ratios Phased-in Full IFRS 9 | Start LCR1 Phased-in Full NSFR2 | Start SACCR3 | Start date (pending) TLAC4 Phased-in Full Basel IV5 Phased-in -- MCRMR6 | Start -- Leverage ratio Dis
Slide 35: 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 36: Strong UOB Fundamentals
Strong UOB Fundamentals 36 ## RESTRICTED ##
Slide 37: Disciplined balance sheet management
Disciplined balance sheet management Return on risk-weighted assets Focus on 1.74% 2.16% 2.27% Healthy 1.68% 1.64% balance portfolio FY21 FY22 FY23 FY24 9M25 sheet quality efficiency Current Account Saving Account Balances (SGD b) 5.1% CAGR1 198 189 221 239 175 FY21 FY22 FY23 FY24 9M25 Proactive Rob
Slide 38: Customer loan momentum sustained, growth of 5% YoY and 2% QoQ
Customer loan momentum sustained, growth of 5% YoY and 2% QoQ By Industry By Geography ($b) +5% +2% 5% 6% 334 338 341 343 351 Rest of the world 49 48 49 51 53 24% Greater China 49 52 51 48 48 26% 75 ASEAN-4 73 74 74 74 $351b Sep-25 Singapore 163 164 167 170 175 9% Sep-24 Dec-24 Mar-25 Jun-25 Sep-25
Slide 39: UOB's responsible financing journey: pragmatic and progressive
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 40: TCFD Implementation: Climate Scenario Analysis
TCFD Implementation: Climate Scenario Analysis 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 im
Slide 41: Net zero by 2050 commitment with a 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 42: 2 years on, we are progressing across all priority sectors
2 years on, we are progressing across all priority sectors, and are trending below the reference pathways 42 ## RESTRICTED ##
Slide 43: Nature risks: Our portfolio has low to medium risk
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 44: Nature opportunities: ~60% of sustainable finance portfolio
Nature opportunities: ~60% of our sustainable finance portfolio is focused on the nature-climate nexus 44 ## RESTRICTED ##
Slide 45: 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 44% 0.8% 83% Aa1 AA– AA– OCBC a1 39% 1.4% 79% Aa1 AA– AA– DBS a1 39% 1.4%
Slide 46: Capital and leverage ratios
Capital and leverage ratios Reported Common Equity Tier 1 CAR 16.9% 16.9% 15.5% 14.8% 14.7% 14.6% 14.5% 14.2% 13.2% 13.2% 13.1% 12.3% 11.7% Fully-loaded 15.1% 15.0% 14.5% 1 1 1 2 2 Return on DBS OCBC MBB TD CIMB UOB HSBC SCB Citi RBC BOA CBA NAB Average Equity (annualised) 17.0% 12.9% 11.5% 12.9% 11
Slide 47: 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 4% 12% Debt Class 12% USD Covered Currency 26% Tier 2 31% (Aaa; AAA, 14% (A2; EUR 13% S$21b NR)1 BBB+; S$21b equivalent A)1 equivalent 13
Slide 48: Our Growth Drivers
Our Growth Drivers 48 ## RESTRICTED ##
Slide 49: Our growth drivers
Our growth drivers Realise potential of Sharpen regional Reinforce fee Long-term growth our integrated focus income growth perspective platform • Provides us with ability • Global macro • Grow fee income to • Disciplined approach in to serve expanding environment remains offset competitive executing
Slide 50: Southeast Asia's immense long-term potential
Southeast Asia’s immense long-term potential Population GDP1 Southeast Asia’s immense … that UOB is uniquely growth prospects… placed to capture (Million persons) (USD trillion) ▪ Third largest population ▪ Most diverse regional globally, after China and franchise among Singapore India banks 685 723
Slide 51: Strong retail presence in high potential regional markets
Strong retail presence in high potential regional markets High Vietnam 8 2022 retail banking pool sizes 4 Philippines USD b Denotes UOB’s core markets in Southeast Asia Banking penetration Indonesia ✓ ✓ was launched growth potential ✓ in Thailand, 14 Indonesia, Singapore and Malaysia. ✓ 14 Thailand
Slide 52: Revenue potential from 'connecting the dots' in the region
Revenue potential from ‘connecting the dots’ in the region Industry’s potential connectivity revenue Industry’s potential connectivity revenue (2026) (SGD b) c$79b CAGR (SGD b) Thailand Vietnam c$23b c$1b c$2b c$59b +10% Singapore c$4b c$15b Malaysia c$13b +10% c$4b Hong Kong Wealth c$8b c$5b Others
Slide 53: Right By You
@ Right By You