UOB plans to move some back, middle-office functions to Malaysia; aims to sustain ROE at 14% by 2026

[KUALA LUMPUR] UOB will move some of its back and middle-office functions to Malaysia, mainly in capital city Kuala Lumpur (KL), as it looks to maintain its cost-to-income ratio at 40 per cent by 2026, said group chief financial officer Lee Wai Fai.

This will help the lender sustain its return on equity (ROE) at around 14 per cent by 2026, together with increased contributions from around Asean and a higher mix of non-interest income, he said.

“Our first phase of offshoring will continue to be in KL, as it has a good hinterland of people that can supply the quality of staff that we want,” said Lee at the lender’s corporate day event in KL on Wednesday (Aug 14).