The acquisition of four Citi consumer businesses has supercharged UOB’s growth, making its pan-Asean network even harder to beat, especially in retail banking.
As 2024 began, the acquisitions were complete in Indonesia, Malaysia and Thailand. And the benefits are already showing.
UOB’s current and savings account balances grew 19% year-on-year in 2024. Gross card fees were up 18%. Wealth-management income was up 30%, largely thanks to emerging affluent customers using the bank’s digital platforms.
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