UOB CEO Wee Ee Cheong's salary rose 12.58% to $10.56m in 2018

The bank’s full-year profits rose 18% thanks to loan, card, trade, and fund management fees.

The CEO of United Overseas Bank (UOB), Wee Ee Cheong, received total remuneration of $10.56m for 2018, higher by 12.58% than last year’s package of $9.38m, the bank’s annual report revealed.

The remuneration package comprised a base salary of $1.2m, a bonus of $9.33m, and benefits worth $33,000.

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UOB profits rose 18% YoY to $4.01b in FY2018 amidst strong performance in loan-related, credit card, trade-related and fund management fees.

Total income for Group Retail rose 4% to $3.95b, supported by healthy volume growth and deposit margin improvement. Group Wholesale Banking reported an income growth of 11% to $3.94b, led by double-digit loan growth and broad-based increase in fee and customer treasury income.

Total income for Global Markets grew 6% to $465m amidst favourable movements in foreign exchange and rates.