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UOB ‘very flush’ with liquidity; CRO notes importance of prudent business model for long-term survival

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Tan Nai Lun

Tan Nai Lun

Published Fri, Apr 21, 2023 · 07:14 PM
    • At UOB's annual general meeting, chief risk officer Chan Kok Seong notes that ultimately, it is the level of trust and confidence in the bank that will ensure its long-term survival.
    • At UOB's annual general meeting, chief risk officer Chan Kok Seong notes that ultimately, it is the level of trust and confidence in the bank that will ensure its long-term survival. PHOTO: BT FILE

    UOB ’S liquidity position is “very flush”, putting it in a comfortable position amid recent turmoil in the global banking industry, said the bank’s chief risk officer (CRO) Chan Kok Seong at its annual general meeting on Friday (Apr 21).

    In response to shareholder queries on the lender’s ability to weather bank runs, Chan said he would not disclose the amount of UOB’s liquidity buffer, but assured that it had “a lot of excess liquidity” and that its capital ratios were well above regulatory minimums.

    Chief executive and deputy chairman Wee Ee Cheong also noted that UOB has a lot of liquidity residing with central banks.

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