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Singapore's UOB allocates $2.2 billion for companies impacted by coronavirus

Reuters
A woman passes the United Overseas Bank branch in Singapore

SINGAPORE (Reuters) - Singapore lender United Overseas Bank (UOB) said on Wednesday it has allocated S$3 billion ($2.16 billion) to companies in the city-state as relief assistance to help tide them over during the coronavirus outbreak.

"In the face of the likely economic fallout and its impact on industries and businesses, UOB sees the need to help its corporate clients, in particular the SMEs (small-and-medium enterprises), in addressing their near-term liquidity needs," it said in a statement.

($1 = 1.3862 Singapore dollars)

(Reporting by Anshuman Daga, editing by Louise Heavens)