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UOB buys more shares in troubled Hengfeng Bank for 1.86b yuan

As at Sept 30, 2019, UOB's exposure to mainland China is about 8 per cent of total assets, or S$34 billion.


UNITED Overseas Bank (UOB) announced on Wednesday after trading hours that it is buying an additional 1.86 billion shares in troubled Chinese mid-sized lender Hengfeng Bank Co for 1.86 billion yuan (S$360.4 million) as part of a subscription agreement.

Following the...