United Overseas Bank Ltd. shares tumbled the most in almost four months after fourth-quarter profit missed analyst expectations and the bank cut its dividend.
Signage outside United Overseas Bank (Malaysia) Bhd. bank branch in Kuala Lumpur, Malaysia, on Wednesday, Aug. 14, 2024. Singapore-based UOB is aiming to be Southeast Asia’s top trade bank, while growing businesses from corporate banking to wealth management, executives at its corporate day in Kuala Lumpur said Wednesday. Photographer: Samsul Said/Bloomberg
Kelvin Chiang knew the five agentic AI models built by his team could in ten minutes do what used to take a private banker an entire day. With that in place, he went to show Singapore’s banking regulator the safeguards would sufficiently control the risks.
Bank staff gather for a hands-on AI literacy workshop at OCBC's Singapore headquarters. Source: OCBC
A large wager on Hong Kong and China real estate is backfiring on one of Singapore’s top banks, which is facing up to mounting troubles in the region’s deteriorating property markets.
Parkview Green in Beijing. Photographer: Simon Song/South China Morning Post/Getty Images
Finance industry billionaires are raising concerns over what they see as increasing risk in private markets fueled by steep rises in asset valuations, limited regulation and macroeconomic pressures.
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