Turning more competitive overnight

  • UOB acquired Citigroup’s consumer banking franchise in Indonesia, Malaysia, Thailand and Vietnam for ~S$5bn

  • Maintain ACCUMULATE with a higher GGM TP of S$31.30, from S$29.00

  • We raise FY21e earnings by 3.8% as we increase NIM estimates for FY21e
January 17th, 2022
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