UOB to focus on organic growth: CEO

UNITED Overseas Bank (UOB) will focus on growing organically, but will be on the look-out for opportunities to cement its position in South-east Asia, chief executive and deputy chairman Wee Ee Cheong said at the sidelines of the company's annual general meeting yesterday.

"We are on the look-out, but it must be the right price, the right fit," Mr Wee said. "At the moment, I think we will continue to grow organically because you can see the markets that we're in, we still have a small market share and we are still able to grow. It's not that we have to buy to gain market share. Because when you buy something, obviously you have to pay a premium."

Asked what would be the right fit for UOB, Mr Wee replied: "We are still in the South-east Asia space. This is something that we like to see, if we are able to conclude the whole footprint."