UOB scores in cash management

UNITED Overseas Bank (UOB) has been stepping up its transaction banking offerings, in particular cash management services.

In the past 12 months, UOB's transaction banking unit reported a 28 per cent year-on-year increase in revenue in the first half of this year, it said on Monday.

This was supported by a doubling of trade loans and double-digit growth in deposits despite today's low-interest rate environment, UOB said in a statement.