About United Overseas Bank

United Overseas Bank Limited provides various banking products and services. Deposits The company's deposits are fixed deposits, savings deposits, current accounts, and others. Segments The company operates through three major business segments: Group Retail, Group Wholesale Banking, and Global Markets. Others include non-banking activities and corporate functions. Group Retail ('GR') GR segment covers individual customers. Customers have access to a diverse range of products and services, including deposits, insurance, card, wealth management, investment and loan products, which are available across the company's global branch network. Group Wholesale Banking ('GWB') GWB encompasses corporate and institutional client segments, which include small, medium and large enterprises, local and multinational corporations, financial institutions, government-linked entities, financial sponsors and property funds. GWB provides customers with a broad range of products and services, including loans, trade services, cash management, capital markets solutions and advisory and treasury products. Income from products and services offered to customers of Group Retail and Group Wholesale Banking are reflected in the respective client segments. Others Others includes corporate support functions, decisions not attributable to business segments mentioned above and other activities, including property, insurance and investment management. Investment Securities The company's investment securities are debt securities and equity securities. Acquisitions of Consumer Business On 14 January 2022, the company proposed acquisition of Citigroup Inc.'s consumer banking businesses comprising its unsecured and secured lending portfolios, wealth management and retail deposit businesses (the 'Consumer Business') in Indonesia, Malaysia, Thailand and Vietnam On 1 November 2022, the company completed the acquisition of the Consumer Business for Malaysia and Thailand. History The company was founded in 1935. It was incorporated in 1935 in the Republic of Singapore. The company was formerly known as the United Chinese Bank and changed its name to United Overseas Bank Limited in 1965.