As United Overseas Bank (UOB) celebrates over eight decades of success and approaches its 90th anniversary, the bank’s steady growth and resilience serve as a testament to its strong fundamentals and long-term vision. This bonsai tree, a symbol of patience and nurturing, reflects UOB’s commitment to sustainable growth and cultural cornerstone, especially in its expansion across ASEAN.
Mr. Wee Ee Cheong, Deputy Chairman and CEO of UOB, emphasizes that their approach is not about chasing rapid expansion, but rather, “We believe in taking a long-term view, rooted in strong fundamentals. That’s what enables us to grow with resilience.”
UOB’s journey in Vietnam commenced in 1993 with the establishment of a representative office, followed by the opening of a branch in Ho Chi Minh City in 1995. Since then, the bank has consistently invested in digital infrastructure, sustainable finance, and talent development, laying a solid foundation for its operations in the country.
Driving Vietnam’s Digital and Green Transformation
UOB is deeply committed to supporting Vietnam’s digital and green transformation. Through sustained investments in technology, innovation, and people, the bank aligns closely with the country’s vision for a digitally driven and sustainable economy. Mr. Wee highlights that technology plays a pivotal role in this transformation, stating, “Our unified platform, developed to span across ASEAN, enables us to deliver seamless banking services regardless of geographic location.”
With an active presence in key markets such as Vietnam, Malaysia, and Thailand, UOB’s integrated platform ensures consistent and efficient service for its clients across the region. Designed to go beyond core banking, the platform enhances cross-border trade finance and streamlines supply chain management, benefiting foreign investors looking to establish themselves in Vietnam.
The COVID-19 pandemic further accelerated UOB’s digital initiatives. In response to changing customer behavior, the bank launched its digital banking app, UOB TMRW (Tomorrow), which has been well-received across ASEAN and is set to debut in Vietnam this year. UOB continues to embrace an omni-channel approach, combining digital innovation with in-person service to cater to diverse customer preferences.
Currently, UOB operates five branches in Vietnam, adapting its physical presence to meet the needs of its customers. While digitalization is a key focus, the bank also carefully integrates artificial intelligence (AI) into its operations, starting with customer service applications to enhance efficiency and better anticipate customer needs.
Mr. Wee emphasizes the importance of striking a balance between AI integration and data security, stating, “AI is a powerful tool—but without proper control, it can be dangerous. Human oversight remains essential.”
Talent Empowerment and Green Transformation
Talent development is another area of focus for UOB. Mr. Wee underscores that “No matter how advanced our systems are, they’re only as good as the people operating them.” Therefore, the bank prioritizes training and development, empowering employees to fully leverage digital tools and deliver exceptional service.
Additionally, UOB reinforces its commitment to green transformation. The bank’s new headquarters in Ho Chi Minh City’s District 1 is being designed with sustainability in mind, contributing to the broader community’s sustainability efforts.
Talent Strategy in Vietnam
As UOB expands its presence across ASEAN, talent development and retention remain cornerstone strategies for long-term growth, especially in rapidly growing markets like Vietnam. Mr. Wee believes that sustainable success is about creating an environment where employees are equipped to excel, fostering a culture of innovation and continuous learning.
UOB invests in training, digital tools, and leadership development to empower its talent. By doing so, the bank ensures its people are well-prepared to meet the evolving demands of a digital-first economy.
Community Engagement and Legacy
UOB emphasizes adaptability, not only in business but also in its engagement with local communities. In Vietnam, the bank actively contributes through initiatives like the UOB Heartbeat program, focusing on education and social impact. Mr. Wee shares, “We don’t just work in a country; we aim to be a part of it.” This approach fosters acceptance and long-term success.
Education is a key pillar of UOB’s corporate social responsibility (CSR) strategy, with a particular emphasis on children’s education due to its long-term impact. By improving digital literacy and providing access to tools and learning platforms, UOB aims to equip the next generation with skills for the digital world. As part of its 90th-anniversary celebrations, UOB is partnering with an education platform to support 120,000 underprivileged children across Singapore and the region, leaving a lasting impact on society.
UOB’s bonsai-inspired philosophy guides its financial strategy and community engagement. The bank’s senior management team, with their decades of experience, ensures stability and a consistent vision. As UOB strengthens its presence in ASEAN, its commitment to supporting communities, nurturing talent, and contributing to sustainable development remains unwavering.
With its 90th anniversary on the horizon, UOB’s ability to thrive across three generations is a remarkable legacy. Mr. Wee attributes this longevity to the bank’s culture, adaptability, and institutional strength. To ensure sustainability, UOB cultivates a strong organizational culture, believing in growing its own talent and maintaining continuity in its leadership.
A Positive Long-Term Outlook
Looking ahead to its 100th anniversary, UOB aims to deepen its roots in the ASEAN region. Over the next decade, the bank will increase activities, strengthen engagement, and accelerate growth across key markets. By simplifying banking processes and integrating artificial intelligence, UOB will scale efficiently and provide responsive, tailored services.
UOB also recognizes the demographic advantage of ASEAN, with its young and growing population of over 600 million people. However, unlocking this potential relies on maintaining political stability and fostering stronger regional cooperation. By focusing on innovation, efficiency, and regional solidarity, UOB is poised to contribute to the region’s dynamic and prosperous future.
As the banking industry navigates challenges and opportunities in 2025, UOB’s nearly century-long experience provides a solid foundation to weather economic uncertainties. The bank remains optimistic about the medium to long-term outlook, committed to its expansion and investment strategy across the region.
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