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UOB expects 5% revenue at risk after new digital banks enter the fray

Tay Peck Gek

Tay Peck Gek

Published Tue, Apr 12, 2022 · 05:50 AM
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Singapore

UNITED Overseas Bank expects "limited" impact in the near term from competition from new digital banks - with about 5 per cent of its revenue at risk - as it believes the Singapore banking market is highly penetrated and incumbent banks are "well trusted" by consumers.

The bank, founded in 1935, …

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