United Overseas Bank Limited · SGX:U11
United Overseas Bank — Debt Investor Presentation (March 2026)
49 slides from United Overseas Bank's debt investor presentation, March 2026
Slide 1: UOB Group: Resilient earnings with stable franchise growth across ASEAN
UOB Group Resilient earnings with stable franchise growth across ASEAN March 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
Slide 2: Agenda
Agenda 1 Overview of UOB Group 2 Strong UOB Fundamentals Appendices A Macroeconomic Outlook B Sustainable Development Target 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 FY25 Founded in August 1935 by a group of Chinese ■ Gross loans : SGD352b (USD274b1) businessmen and Datuk Wee Kheng Chiang, ■ Customer deposits : SGD426b (USD331b1) grandfather of the present UOB Group CEO, Mr. Wee ■ Loan / Deposit ratio : 81.7% 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 FY25 performance by segment Myanmar Greater China1 Group Income 1 branch 20 branches Retail SGD201b2 Assets under Thailand 140 branches Vietnam 5 branches SGD5.1b management +6% YoY Malaysia Philippines -7% 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% 0.9% 82% Aa1 AA– AA– OCBC a1 40% 1.4% 79% Aa1 AA– AA– DBS a1 40% 1.5%
Slide 9: Capital and leverage ratios
Capital and leverage ratios Reported Common Equity Tier 1 CAR 17.0% 16.9% 15.1% 14.9% 14.9% 14.8% 14.7% 14.1% 13.5% 13.2% 12.8% 12.3% 11.7% Fully-loaded 15.0% 15.1% 14.9% 1 1 1 2 2 Return on DBS OCBC UOB MBB HSBC CIMB TD SCB RBC Citi BOA CBA NAB Average Equity (annualised) 18.0% 12.6% 9.6% 11.5% 12.
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% Healthy 1.68% 1.74% 1.75% balance portfolio FY21 FY22 FY23 FY24 FY25 sheet quality efficiency Current Account Saving Account Balances (SGD b) 5.8% CAGR1 198 189 221 249 175 FY21 FY22 FY23 FY24 FY25 Proactive Rob
Slide 13: Customer loans up 4% YoY and stable QoQ
Customer loans up 4% YoY and stable QoQ By Industry By Geography ($b) +4% +0% 5% 6% 338 341 343 351 352 Rest of the world 48 49 51 53 53 24% Greater China 52 51 48 48 45 26% 75 77 ASEAN-4 74 74 74 $352b Dec-25 Singapore 164 167 170 175 177 9% Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 8% Note: Loans are cla
Slide 14: Exposure to Greater China
Exposure to Greater China 2.3 2.1 1.2 1.6 General allowance on 1.0 loans/Performing loans (%) 52 51 48 48 45 Customer Loans ($b) Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 NPL ratio (%) 2.1 2.7 2.7 3.1 3.3 NPA coverage (%) 48 47 57 78 60 Unsecured NPA coverage (%) 144 193 228 299 259 Note: Classification is
Slide 15: Exposure to United States
Exposure to United States 4.7 General allowance on 1.3 2.2 0.8 1.0 loans/Performing loans (%) 17 17 14 14 13 Customer Loans ($b) Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 NPL ratio (%) 3.6 3.7 4.2 4.0 3.0 NPA coverage (%) 81 93 67 69 106 Unsecured NPA coverage (%) 128 148 129 147 235 Note: Classification i
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 ,188 CA ,168 SG, 39 AU ,162 HK, 28 SG,151 CA, 22 AU, 22 HK,98 US, 17 2Q15 1Q17 2Q18 3Q19 4Q20 1Q22 2Q23 3Q24 4Q25 2020 2021 2022 2023 2024 2025F
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 3% 13% Debt Class 13% AUD Covered Currency 28% 30% Tier 2 (Aaa; AAA, 11% (A2; EUR S$26b NR)1 BBB+; 15% S$26b equivalent A)1 equivalent 15
Slide 18: Appendix A. Macroeconomic Outlook
Appendix A. Macroeconomic Outlook 18
Slide 19: 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 20: Fed on Hold Before 2Q Cuts; Others Shift Toward Pause or a More Hawkish Stance
Fed on Hold Before 2Q Cuts; Others Shift Toward Pause or a More Hawkish Stance 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26F 2Q26F 3Q26F 4Q26F US 10-Year Treasury 4.20 4.40 3.78 4.57 4.21 4.23 4.15 4.12 4.10 4.00 4.10 4.20 US Fed Funds 5.50 5.50 5.00 4.50 4.50 4.50 4.25 3.75 3.75 3.50 3.25 3.25 SG 3
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) 409 15.6 17.4 282 156 126 75 30 24 26 1.5 1.7 Singapore Thailand Indonesia Malaysia –2.0 –1.5 –1.1 –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 Development
Appendix B. Sustainable Development 23
Slide 24: 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 25: 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 26: 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 27: 2 years on, progressing across all priority sectors
2 years on, we are progressing across all priority sectors, 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: sustainable finance portfolio
Nature opportunities: ~60% of our sustainable finance portfolio is focused on the nature-climate nexus 29
Slide 30: Appendix C. Latest Financials
Appendix C. Latest Financials 30
Slide 31: Key Highlights This Quarter
Key Highlights This Quarter Resilient 4Q25 operating profit at $1.8 billion, with continued franchise growth • Group Retail (GR) delivered a robust performance, with CASA growing 12% YoY and FY25 wealth income rising 14% YoY, driven by 6% YoY AUM growth and 42% of AUM being invested. Our customer ba
Slide 32: FY25 net profit at $4.7 billion
FY25 net profit at $4.7 billion Stable core franchise; profitability weighed by pre-emptive provisioning 2025 2024 YoY 4Q25 3Q25 QoQ 4Q24 YoY $m $m +/(-)% $m $m +/(-)% $m +/(-)% Net interest income 9,355 9,674 (3) 2,346 2,265 4 2,451 (4) Net fee income 2,569 2,395 7 625 615 2 567 10 Other non-intere
Slide 33: 4Q25 financial overview
4Q25 financial overview Net Profit After Tax Movement, 4Q25 vs 3Q25 (SGD m) 1,248 10 190 1 >100% 81 10 199 1,410 7 443 +4% +2% –39% –0% –92% +39% >100% +245% 3Q25 net Net interest Net fee and Other non- Operating Total Share of profit Tax, 4Q25 net profit after tax income commission interest expense
Slide 34: FY25 financial overview
FY25 financial overview Net Profit After Tax Movement, FY25 vs FY24 (SGD m) 319 174 341 153 1,116 42 128 6,045 -23% 4,682 –3% +7% –15% –2% >100% –35% –11% FY24 net Net interest Net fee and Other non- Operating Total Share of profit Tax, FY25 net profit after tax income commission interest expenses a
Slide 35: Group Retail
Group Retail Selected income statement data Highlights 2025 2024 YoY • PBT affected by declining rates, albeit offset by relief of one-off expense and $m $m % improved credit costs after the operational merger in Thailand Income 5,100 5,491 (7) Lending, Deposits1 2,998 3,555 (16) • Strategic focus o
Slide 36: Group Wholesale Banking
Group Wholesale Banking Selected income statement data Highlights 2025 2024 YoY $m $m % • PBT declined amid lower rates and keen competition for quality assets, coupled Income 6,245 6,726 (7) with allowance set aside for selected markets and sector Transaction Banking 3,025 3,640 (17) 1 • Despite ta
Slide 37: Global Markets
Global Markets Record high treasury customer led by hedging and wealth demand, while non- customer strategically positioned to capitalise on liquidity and trading conditions Total income ($m) 2,179 1,775 1,064 Treasury Non-Customer 704 623 556 526 474 Treasury Customer1 1,071 1,116 374 319 284 247 2
Slide 38: FY25 net interest income moderated amid lower benchmark rates
FY25 net interest income moderated amid lower benchmark rates, cushioned by asset growth 2.50 Loan Margin (%) 2.24 2.48 2.40 2.27 2.17 Net Interest Margin (%) 2.12 2.03 1.89 2.00 2.00 1.91 Interbank & Securities Margin (%) 1.82 1.84 1.05 1.15 1.16 1.16 1.16 1.14 1.01 -3% 9,674 9,355 NII from Interba
Slide 39: Net interest margin supported by proactive funding cost management
Net interest margin supported by proactive funding cost management Loan Margin (%) 2.40 2.12 2.17 Interbank & Securities 1.16 1.14 Margin (%) Net Interest Margin (%) 1.82 1.84 -0.02 -0.15 0.19 3Q25 Asset Funding Volume/Mix 4Q25 repricing cost SGD +0.02 | 3M SORA average -0.43 HKD +0.03 | 1M HIBOR av
Slide 40: FY25 gross fees at record high
FY25 gross fees at record high; 4Q25 fees eased amid seasonal softness in loan and wealth activities +10% 3,464 3,156 368 Others ($m) 362 1,183 Credit Card ($m) 1,107 -5% 896 892 829 847 784 90 96 82 100 91 822 281 Wealth ($m) 296 698 284 321 304 213 218 188 178 203 Loan / Trade Related ($m) 989 1,0
Slide 41: Maintained cost discipline, while prioritising technology and regulatory investments
Maintained cost discipline, while prioritising technology and regulatory investments 45.6 45.2 46.4 44.1 44.6 44.3 42.6 Cost-to-income Ratio (%) 6,310 6,157 Other expenses1 ($m) 1,554 1,608 IT-related expenses ($m) 1,057 1,136 1,579 1,559 1,535 1,535 1,528 401 361 397 426 424 267 253 259 290 333 Sta
Slide 42: Asset quality broadly stable with NPL ratio at 1.5%
Asset quality broadly stable with NPL ratio at 1.5% 1.5 1.6 1.6 1.6 1.5 NPL ratio (%) Non-Performing 5,809 Assets 5,361 5,386 5,440 5,210 914 ($m) Rest of the world 619 609 736 739 Greater China 1,101 1,387 1,330 1,509 1,498 ASEAN-4 2,469 2,440 2,441 2,503 2,313 Singapore 1,021 925 879 883 890 4Q24
Slide 43: FY25 elevated by pre-emptive provisions; 4Q25 credit costs normalised
FY25 elevated by pre-emptive provisions; 4Q25 credit costs normalised 134 55 32 33 Specific credit costs (bps) 52 55 Total credit costs (bps) 35 32 27 26 1,901 32 25 19 19 762 1,166 873 687 1,139 212 Specific allowance on loans ($m) 1,063 290 274 1 172 439 133 479 273 231 156 General allowance on lo
Slide 44: Adequate provision coverage
Adequate provision coverage 32 30 30 30 Specific allowance/NPA (%) 24 General allowance on loans include 0.8 0.8 0.8 1.0 1.0 RLAR/Performing loans (%) 5,787 379 5,268 4,764 4,829 4,765 379 RLAR ($m) 379 379 379 3,664 General allowance ($m) 2,733 2,833 2,776 3,557 Specific allowance ($m) 1,652 1,617
Slide 45: Well-positioned to navigate emerging credit pressures
Well-positioned to navigate emerging credit pressures with stronger coverage for selected markets Legend : 2025 Key Hot Spots 2025 Stronger Coverage 2025 Specific General (2024) Credit Greater United Allowance Greater United Costs China States Coverage1 China States Gross Gross Gross Loans Loans Loa
Slide 46: Sound liquidity and funding positions with continued CASA growth
Sound liquidity and funding positions with continued CASA growth 143 143 147 143 141 All-currency LCR (%) 116 116 118 116 116 Net Stable Fund Ratio (NSFR) (%) 82.7 84.0 83.7 82.5 81.7 Loan/Deposit Ratio (LDR) (%) 487 502 468 467 465 67 76 Wholesale Funding ($b) 1 64 66 60 FD & others ($b) 180 177 18
Slide 47: Robust capital position with CET1 ratio healthy at 15.1%
Robust capital position with CET1 ratio healthy at 15.1% 15.5 15.5 CET1 ratio (%) 15.3 15.1 14.6 CET1 ratio (%) – Fully Loaded 15.4 15.4 15.1 14.9 14.5 269 266 273 276 260 RWA ($b) Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 Leverage ratio (%) 6.9 7.3 7.1 6.6 6.7 47
Slide 48: 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 49: Right By You
@ Right By You
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