UOB's acquisition a big performance driver even as it caps immediate dividend surprises
If UOB achieves its targeted ROE uplift, it would replicate the feat DBS pulled off and set its shares on a similar trajectory
WITH recovering profitability and the lifting of dividend restrictions last year, the 3 local banks were positioned to surprise investors with higher dividend payouts for FY2021 and FY2022.
Instead, UOB delivered a different sort of surprise last week.
On Jan 14, the bank unveiled plans to acquire Citigroup's consumer banking businesses in Indonesia, Malaysia, Thailand and Vietnam.
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