Analysts keep faith with UOB's organic wealth management play

AMONG the Singapore banks, UOB is generally seen to be more conservative in its wealth management (WM) pursuits, with a considerably smaller - and organically built - franchise when compared against its peers.

But industry observers say differences are not significant enough to warrant a strategy overhaul for now, particularly at a time where capital conservation should be UOB's top priority amid the pandemic.

Overall, UOB's WM fee income in Q2 makes up 16.5 per cent of its non-interest income for the quarter. This was 21.4 per cent for DBS.