Share buybacks, more dividends among options to deploy capital: UOB chief Wee Ee Cheong
The bank is open to investing it in growth, or returning it to shareholders through share buybacks or more dividends, he says
UOB is actively looking to manage its capital, and hopes it can find ways to take “full advantage” of the excess by the end of this year, its chief executive Wee Ee Cheong said on Friday (Nov 8).
With around S$2 billion to S$2.5 billion in excess capital from Basel IV reforms, the bank is open to investing it in growth, or returning it to shareholders, whether through share buybacks or more dividends, he said at a briefing for UOB’s third-quarter 2024 results.
Chief financial officer Lee Wai Fai said: “We’re looking at all options, because if we can’t utilise the capital for growth, we have to find some way to return it to shareholders.”
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