United Overseas Bank Ord (UOVEF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and thank you for joining us. I think given the global environment remains uncertain, I think the three local Singapore banks, generally I think the result has been quite resilient, which is very encouraging. And even on our side, we see healthy trade and investment flows, stronger connectivity with China and ongoing supply chains shift into the region. As businesses look to ASEAN for growth and diversification, I believe we are continuing to well-positioned to support them. ASEAN is our hometown, our competitive advantage, and our engine of growth. Over the years, we have built a different shape of the franchise with deep localization, strong customer relationships, and value-added ecosystems. We will continue to invest in our growth drivers. Okay, let me just very briefly touch on three areas. Wholesale banking, retail and our priorities. Our wholesale banking franchise continues to benefit from growing trade, investment and connectivity across Asia. As clients increasingly operate across multiple markets, our regional footprint is a key dimension. ASEAN 4 is key growth contributing about 27% of wholesale income and growing faster than before. Transactional banking is a key pillar contributing to nearly half of wholesale banking income. Trade loans grew over 30%, while wholesale CASA deposits increased 9% year-on-year in the first half. We see encouraging momentum in foreign direct investment in Southeast Asia with larger and more strategic investments. Over the past decades, foreign direct investment into ASEAN more than doubled. Even as global foreign direct investment declined by above, through our FDI Advisory Unit, aborted more than 300 cross-border deals into the region in the last six months, with projected investment totaling $5.6 billion. More...