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Singaporean bank focused on retail and commercial banking across ASEAN, with a strong wealth management and SME lending franchise.
Singaporean bank focused on retail and commercial banking across ASEAN, with a strong wealth management and SME lending franchise.
Earns mainly from the spread between loan and deposit rates, with fee income from cards, wealth products and trade finance. Singapore is its biggest market, followed by Malaysia, Thailand and Indonesia. The Wee family is its controlling shareholder. The purchase of Citigroup's consumer banking in four Southeast Asian countries from 2022 added cards and wealth customers.
In one line: A Singaporean regional commercial bank akin to PNC.
Moat: narrow (scale, distribution, brand). Deep ASEAN branch network and SME relationships built over decades of regional expansion.
Headquarters: Singapore · Founded: 1935 · Employees: 31,222
Size United Overseas Bank (U11.SI) is a Singapore Financials company (Major Banks) with a market value of $47.6B, the 4th largest of 186 Singapore companies the cockpit tracks. Shares closed at S$36.88 on 6 Nov 2026.
Performance Over six months the shares fell 0.3%, against +7.3% for the median peer and -1.2% for the Singapore market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue fell 10.3% over the last twelve months (peer median +0.8%); the operating margin is 38.1% (peer median 39.2%).
Valuation It trades at 1.23× book value against a peer median of 1.58× (7th cheapest of 21).
Price implies The share price implies a return on equity of about 9.2%; United Overseas Bank delivers 9.8%, so the price asks less than the business earns today.
Credit United Overseas Bank has 9 bonds outstanding ($7.56B), rated AAA by the agencies.
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | S$25.0B | S$26.0B | S$28.6B | S$27.1B | S$16.5B |
| Revenue growth | — | -9% | +6% | +64% | — |
| Net income | S$4.77B | S$4.59B | S$5.95B | S$5.60B | S$4.50B |
| Free cash flow | S$1.90B | S$4.39B | S$3.62B | S$5.60B | S$5.36B |
| Capital expenditure | S$966M | S$1.27B | S$867M | S$872M | S$704M |
| Total debt | n/a | S$76.2B | S$64.1B | S$71.7B | S$68.2B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| United Overseas Bank U11.SI | $47.6B | 0% | -10% | 10% | 1.23× | 9.2% |
| DBS D05.SI | $155B | +19% | -5% | 16% | 2.83× | 21.4% |
| Oversea-Chinese Banking O39.SI | $97.6B | +23% | -3% | 13% | 2.02× | 14.9% |
| HSBC HSBA.L | $301B | -1% | -4% | 14% | 1.51× | 17.5% |
| Standard Chartered STAN.L | $60.9B | +14% | -10% | 13% | 1.37× | 16.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | U11.SI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.4% | +0.5% | 2nd lowest of 21 |
| 6-month return | -0.3% | +7.3% | 4th lowest of 21 |
| Return on equity | 9.8% | 13.7% | 6th lowest of 21 |
| Price / book | 1.23× | 1.58× | 7th cheapest of 21 |
| Trailing P/E | 13.1× | 12.0× | 8th most expensive of 21 |
| ROE the price implies | 9.2% | 12.2% | 7th least demanding of 21 |
| ROE delivered | 9.8% | 14.0% | 4th lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| United Overseas Bank U11.SI | Singapore | $47.6B | 0% | -10% | 10% | 1.23× | 9.2% | 9.8% |
| Swedbank SWED-A.ST | Sweden | $46.0B | +25% | -5% | 14% | 2.09× | 13.2% | 14.3% |
| DNB Bank DNB.OL | Norway | $50.0B | +16% | -8% | 15% | 1.76× | 11.2% | 15.1% |
| Kotak Mahindra Bank KOTAKBANK.NS | India | $50.5B | +27% | +12% | 12% | 2.45× | 29.5% | 11.8% |
| Societe Generale GLE.PA | France | $52.0B | -5% | +9% | 9% | 0.78× | 10.0% | 9.5% |
| Axis Bank AXISBANK.NS | India | $43.6B | +2% | +7% | 14% | 1.78× | 25.1% | 13.9% |
| Skandinaviska Enskilda Banken SEB-A.ST | Sweden | $42.9B | +20% | -8% | 14% | 1.80× | 9.5% | 13.5% |
| Danske Bank A/S DANSKE.CO | Denmark | $42.4B | +11% | +8% | 14% | 1.68× | 6.1% | 14.1% |
| National Bank of Canada NA.TO | Canada | $59.3B | +4% | +8% | 14% | 2.62× | 20.1% | 14.3% |
| Standard Chartered STAN.L | United Kingdom | $60.9B | +14% | -10% | 13% | 1.37× | 16.9% | 12.8% |
| PKO Bank Polski PKO.WA | Poland | $36.5B | +18% | -2% | 20% | 2.56× | 31.9% | 20.1% |
| Nordea Bank Abp NDA-FI.HE | Finland | $62.3B | +6% | +3% | 15% | 1.77× | 14.6% | 14.9% |
| NatWest NWG.L | United Kingdom | $62.3B | +4% | +3% | 16% | 1.21× | 15.8% | 15.9% |
| Ping An Bank 000001.SZ | China | $34.4B | +3% | -9% | 9% | 0.48× | 3.6% | 9.0% |
| Boc Hong Kong 2388.HK | Hong Kong | $67.4B | +13% | -8% | 12% | 1.47× | 8.1% | 11.8% |
| Svenska Handelsbanken SHB-A.ST | Sweden | $32.6B | +23% | -14% | 12% | 1.68× | 9.0% | 12.2% |
| China CITIC Bank 601998.SS | China | $71.5B | +9% | -6% | 9% | 0.67× | 2.5% | n/a |
| Huntington Bancshares HBAN | United States | $31.2B | -3% | +24% | 9% | 1.06× | 10.2% | 9.1% |
| Lloyds Banking LLOY.L | United Kingdom | $73.7B | +2% | -2% | 14% | 1.37× | 17.2% | 14.3% |
| BPER Banca BPE.MI | Italy | $30.4B | +2% | +15% | 15% | 1.49× | 18.6% | 14.9% |
| ShinhanGroup 055550.KS | South Korea | $29.2B | -13% | +32% | 9% | 0.78× | 5.2% | n/a |
United Overseas Bank has 9 bonds outstanding with $7.56B face value. The agencies rate it AAA.