UOB gains as Japan firms invest in South-east Asia

Singapore

SINCE it began banking on the rising trend of Japanese firms investing and expanding in South-east Asia late last year, United Overseas Bank (UOB) has seen deposits from its Japanese clients soar.

The bank, which first set up a dedicated team of three to assist Japanese businesses in expanding in the region at the end of last year, has seen deposit flow from its Japanese clients in the first quarter of 2016 grow more than 80 per cent, when compared to deposits from all its Japanese clients last year, UOB said.