UOB is seeing stronger growth in Southeast Asia following its integration of Citi’s retail banking businesses across four markets, according to a report by The Business Times.
At its annual general meeting, Deputy Chairman and CEO Wee Ee Cheong said the S$4.9 billion acquisition, announced in 2022, is now contributing more clearly to the bank’s regional retail expansion after a multi-year integration process.
The deal covered Citi’s retail banking operations in Indonesia, Malaysia, Thailand and Vietnam. UOB said the integration has strengthened its regional presence, with the bank now serving more than 8.5 million customers across ASEAN.
The completion of the Vietnam integration marked the final step in the regional rollout.
Wee said UOB will continue investing in infrastructure and technology to further develop its retail banking platform across Southeast Asia, noting that each market requires a tailored approach due to differences in customer needs and local conditions.
UOB’s ASEAN-4 segment — Indonesia, Malaysia, Thailand and Vietnam — recorded 5% income growth for the year ended Dec 31, 2025, outperforming the wider group, which saw a 3% decline in total income.
The bank said its retail strategy will focus on deeper customer relationships through wealth solutions, advisory services and ongoing digital upgrades.
