UOB pops the champagne on loan growth across 3 countries

Thanks to its selective lending strategy.

For the past quarter, UOB's customer spreads improved as lending yields rose from higher SGD interest rates.

According to Maybank KimEng, this is attributable to UOB’s ‘selective lending’ strategy to ensure no significant margin compression from customers of good quality.

With this, it has recorded loan growth in Singapore, Thailand, and Greater China, ending the period with expansions of 6%, 20%, and 22%, respectively. Loans classified under Others grew 22%.

The increase in Thailand’s loan growth was mainly from housing loans, Greater China from the financial institution (FI) and general commerce loans, and Others (Australia, US) from FI loans. FI lending saw robust growth, at 27% YoY.