United Overseas Bank Limited · SGX:U11
United Overseas Bank — 2Q26 Earnings Presentation
49 slides from United Overseas Bank's earnings presentation, August 2026
Slide 1: UOB Group: Resilient performance amid macroeconomic headwinds
UOB Group Resilient performance amid macroeconomic headwinds August 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 Key Highlights This Quarter 2 Latest Financials 3 Overview of UOB Group 4 Macroeconomic Outlook 5 Strong UOB Fundamentals 2
Slide 3: Key Highlights This Quarter
Key Highlights This Quarter 2Q26 net profit at $1.5 billion, supported by strong wealth and trade momentum • Group Retail (GR) delivered steady performance, with 16% YoY growth in 1H26 wealth income (ASEAN-4: +30% YoY) alongside growth in CASA (+4% YoY) and credit card income (+13% YoY) • Group Whol
Slide 4: Latest Financials
Latest Financials 4
Slide 5: 1H26 net profit at $2.9 billion
1H26 net profit at $2.9 billion Resilient performance amid macroeconomic headwinds 1H26 1H25 YoY 2Q26 1Q26 QoQ 2Q25 YoY $m $m +/(-)% $m $m +/(-)% $m +/(-)% Net interest income 4,621 4,745 (3) 2,297 2,324 (1) 2,336 (2) Net fee income 1,302 1,330 (2) 665 637 4 636 5 Other non-interest income 1,094 1,0
Slide 6: 1H26 financial overview
1H26 financial overview Net Profit After Tax Movement, 1H26 vs 1H25 (SGD m) 124 28 47 57 155 40 54 1 1 2,828 2,915 +3% –3% –2% +4% +2% –27% +210% –8% 1H25 net Net interest Net fee and Other non- Operating Total Share of profit Tax, 1H26 net profit after tax income commission interest expenses allowa
Slide 7: 2Q26 financial overview
2Q26 financial overview Net Profit After Tax Movement, 2Q26 vs 1Q26 (SGD m) 170 106 27 28 8 13 32 1 1,437 +3% 1,478 –1% +4% +37% +7% +4% +59% +12% 1Q26 net Net interest Net fee and Other non- Operating Total Share of profit Tax, 2Q26 net profit after tax income commission interest expenses allowance
Slide 8: Group Retail
Group Retail Selected income statement data Highlights 1H26 1H25 YoY $m $m % • PBT edged lower on modest pickup in expenses and credit costs, while RoRWA Income 2,574 2,583 (0) held up compared with the prior year 1 Lending, Deposits 1,388 1,551 (10) • Stable income reflects diversified retail franc
Slide 9: Group Wholesale Banking
Group Wholesale Banking Selected income statement data 1H26 1H25 YoY Highlights $m $m % • PBT was lower, stemming from the impact of lower interest rates and keen Income 2,913 3,254 (10) competition for quality assets, while credit costs rose from a lower base Transaction Banking 1,358 1,596 (15) •
Slide 10: Global Markets
Global Markets Year-on-year growth supported by lower cost of funds and sustained momentum in customer flows and trading activities Total income ($m) +15% 1,242 1,081 658 -11% Treasury Non-Customer 530 658 623 584 526 474 319 364 293 247 214 Treasury Customer1 551 584 279 303 260 294 290 1H25 1H26 2
Slide 11: Net interest income declined on loan margin compression, cushioned by asset growth
Net interest income declined on loan margin compression, cushioned by asset growth 2.33 Loan Margin (%) 2.11 2.27 2.12 2.17 2.16 2.05 Net Interest Margin (%) 1.96 1.78 1.91 1.82 1.84 1.82 Interbank & Securities Margin (%) 1.74 1.16 1.14 1.16 1.16 1.14 1.14 1.14 -3% 4,745 4,621 NII from Interbank & S
Slide 12: Net interest margin declined on lower asset repricing and surplus funds deployment
Net interest margin declined on lower asset repricing and surplus funds deployment Loan Margin (%) 2.40 2.16 2.05 Interbank & Securities 1.14 1.14 Margin (%) Net Interest Margin (%) 1.82 -0.05 -0.01 1.74 -0.02 1Q26 Asset Funding Volume/Mix 2Q26 repricing cost SGD -0.04 | 3M SORA average -0.07 USD -0
Slide 13: Record wealth fees underpinned 2Q26 performance, while loan related fees softened
Record wealth fees underpinned 2Q26 performance, while loan related fees softened 0% 1,724 1,730 Others ($m) 172 193 Credit Card ($m) 565 572 +2% 892 873 829 847 857 96 95 82 100 98 Wealth ($m) 401 462 296 288 284 284 321 188 218 219 243 203 Loan / Trade Related ($m) 586 502 274 282 223 256 246 1H25
Slide 14: Disciplined cost growth alongside investments in talent, technology and strategic priorities
Disciplined cost growth alongside investments in talent, technology and strategic priorities 45.2 46.4 45.3 44.9 44.3 44.5 43.5 Cost-to-income Ratio (%) +2% 3,095 3,152 Other expenses1 ($m) 758 741 +7% IT-related expenses ($m) 512 575 1,629 1,535 1,535 1,528 1,523 388 397 426 424 353 295 259 280 290
Slide 15: NPL ratio at 1.6% with new NPA formation reflecting one real estate account downgrade
NPL ratio at 1.6% with new NPA formation reflecting the downgrade of one closely monitored real estate account 1.6 1.6 1.5 1.5 1.6 NPL ratio (%) Non-Performing 5,809 5,750 Assets 5,386 5,440 5,276 914 437 ($m) Rest of the world 736 739 461 Greater China 1,330 1,509 2,335 1,498 1,730 ASEAN-4 2,441 2,
Slide 16: 2Q26 total credit costs within expectation
2Q26 total credit costs within expectation 134 34 34 Total credit costs (bps) Specific credit costs (bps) 39 27 32 29 26 55 26 32 26 28 19 1,166 477 687 563 General allowance on loans ($m) 134 592 247 274 429 1 172 231 Specific allowance on loans ($m) 479 273 344 231 249 (59) (18) (115) (97) 1H25 1H
Slide 17: Provision coverage remained adequate with higher unsecured NPA coverage
Provision coverage remained adequate with higher unsecured NPA coverage 30 30 Specific allowance/NPA (%) 24 26 23 General allowance on loans include 0.8 1.0 1.0 1.0 0.9 RLAR/Performing loans (%) 5,787 379 5,268 5,251 5,056 4,765 379 379 379 RLAR ($m) 379 3,664 General allowance ($m) 2,776 3,557 3,50
Slide 18: Exposure to Greater China
Exposure to Greater China 2.3 2.1 1.9 1.8 1.6 General allowance on loans/Performing loans (%) 48 48 49 49 45 Customer Loans ($b) Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 NPL ratio (%) 2.7 3.1 3.3 3.5 4.8 NPA coverage (%) 57 78 60 57 42 Unsecured NPA coverage (%) 228 299 259 272 323 Note: Classification is
Slide 19: Exposure to United States
Exposure to United States 4.7 4.8 4.6 General allowance on 2.2 1.0 loans/Performing loans (%) 17 17 17 15 14 Customer Loans ($b) Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 NPL ratio (%) 4.2 4.0 3.0 1.5 1.2 NPA coverage (%) 67 69 106 233 269 Unsecured NPA coverage (%) 129 147 235 978 1,243 Note: Classificati
Slide 20: Healthy liquidity and funding positions supported by deposit growth
Healthy liquidity and funding positions supported by deposit growth 159 143 147 144 141 All-currency LCR (%) 118 116 116 115 114 Net Stable Fund Ratio (NSFR) (%) 83.7 82.5 81.7 81.9 81.7 Loan/Deposit Ratio (LDR) (%) 502 501 516 487 465 79 Wholesale Funding ($b) 1 67 76 75 60 FD & others ($b) 180 177
Slide 21: Robust capital position with CET1 ratio at 15.4% post dividend payout
Robust capital position with CET1 ratio at 15.4% post dividend payout 15.4 CET1 ratio (%) 15.3 15.1 15.3 14.6 CET1 ratio (%) – Fully Loaded 15.2 15.1 14.9 15.0 14.5 273 276 278 279 266 RWA ($b) Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 Leverage ratio (%) 7.1 6.6 6.7 7.0 6.8 21
Slide 22: Delivering sustainable shareholder value through capital returns
Delivering sustainable shareholder value through capital returns Payout ratio1 (%) 50 50 50 50 Payout ratio including special 57 58 dividend1 (%) Share Buyback2 Dividend per ordinary share (¢) Returning $2 billion surplus capital to shareholders 205 Special 25 181 Shares Number of Programme 170 repu
Slide 23: Accelerating and advancing our wealth ambitions
Accelerating and advancing our wealth ambitions Strategic divestment Strategic partnership with Allianz Global Investors ▪ Purchase consideration Strengthens wealth management franchise of $555 million ▪ Expands UOB's investment solutions and open-architecture offerings ▪ Pre-tax gain of ~$330 milli
Slide 24: Overview of UOB Group
Overview of UOB Group 24
Slide 25: UOB Overview
UOB Overview Founding Key Statistics for 1H26 Founded in August 1935 by a group of Chinese ■ Gross loans : SGD361b (USD279b1) businessmen and Datuk Wee Kheng Chiang, ■ Customer deposits : SGD437b (USD338b1) grandfather of the present UOB Group CEO, Mr. Wee ■ Loan / Deposit ratio : 81.7% Ee Cheong. ■
Slide 26: 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 27: 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 28: Comprehensive regional banking franchise
Comprehensive regional banking franchise Extensive Regional Footprint 1H26 performance by segment Myanmar Greater China1 Group Income 1 branch 20 branches Retail SGD204b2 Assets under Thailand 139 branches Vietnam 5 branches SGD2.6b management +7% YoY Malaysia Philippines 29% of Group’s 55 branches
Slide 29: 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 30: Macroeconomic Outlook
Macroeconomic Outlook 30
Slide 31: 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 32: Global central banks navigate inflation risks, Fed on extended pause
Global central banks navigate inflation risks, Fed on extended pause 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26F 4Q26F 1Q27F 2Q27F US 10-Year Treasury 4.57 4.21 4.23 4.15 4.12 4.32 4.47 4.80 4.85 4.85 4.80 US Fed Funds 4.50 4.50 4.50 4.25 3.75 3.75 3.75 3.75 3.75 3.75 3.50 SG 3M SORA 3.07 2.56 2.06 1.4
Slide 33: 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) 426 279 15.6 16.7 146 133 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 34: 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 ,189 AU ,171 SG, 41 CA ,167 HK, 31 SG,153 CA, 23 HK,110 AU, 22 US, 18 2Q15 3Q17 4Q18 1Q20 2Q21 3Q22 4Q23 1Q25 2Q26 2021 2022 2023 2024 2025 2026
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
Slide 37: Disciplined balance sheet management
Disciplined balance sheet management Return on risk-weighted assets Focus on 2.16% 2.27% 2.10% Healthy 1.74% 1.75% balance portfolio FY22 FY23 FY24 FY25 1H26 sheet quality efficiency Current Account Saving Account Balances (SGD b) 9.8% CAGR1 189 221 249 243 175 FY22 FY23 FY24 FY25 1H26 Proactive Rob
Slide 38: Customer loans up 5% YoY and 2% QoQ
Customer loans up 5% YoY and 2% QoQ By Industry By Geography ($b) +5% +2% 6% 5% 343 351 352 354 361 Rest of the world 51 53 53 52 55 24% 25% Greater China 48 48 45 49 49 74 75 77 77 78 ASEAN-4 $361b Jun-26 Singapore 170 175 177 176 180 8% Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 9% Note: Loans are classif
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: 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 41: Net zero commitment by 2050 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: Progressing well on our net zero targets
We are progressing well on our net zero targets, and are trending below the reference pathways 42
Slide 43: 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 • 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) • Agriculture
Slide 44: Nature opportunities: sustainable finance portfolio focus
Nature opportunities: ~60% of our sustainable finance portfolio is focused on the nature-climate nexus 44
Slide 45: 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 46: 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% 78% Aa1 AA– AA– DBS a1 39% 1.3%
Slide 47: Capital and leverage ratios
Capital and leverage ratios Reported Common Equity Tier 1 CAR 16.6% 15.7% 15.4% Fully-loaded 14.6% 14.0% 15.0% 15.0% 14.3% 14.3% 14.2% 14.1% 13.5% 12.8% 12.5% 12.3% 11.7% 1 1 1 2 2 Return on DBS OCBC UOB MBB TD CIMB SCB HSBC RBC Citi BOA CBA NAB Average Equity (annualised) 17.5% 13.7% 11.6% 11.2% 14
Slide 48: 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% 11% Debt Class AUD Covered Currency 11% 27% Tier 2 (Aaa; 33% 10% AAA, (A2; S$24b NR)1 BBB+; S$24b 16% equivalent A)1 equivalent EUR 20
Slide 49: Right By You
@ Right By You