Advertisement
Singapore markets closed

  • Straits Times Index

    3,287.75
    -5.38 (-0.16%)
     

  • S&P 500

    5,071.63
    +1.08 (+0.02%)
     

  • Dow

    38,460.92
    -42.77 (-0.11%)
     

  • Nasdaq

    15,712.75
    +16.11 (+0.10%)
     

  • Bitcoin USD

    63,155.91
    -2,885.32 (-4.37%)
     

  • CMC Crypto 200

    1,343.14
    -39.43 (-2.85%)
     

  • FTSE 100

    8,055.47
    +15.09 (+0.19%)
     

  • Gold

    2,326.10
    -12.30 (-0.53%)
     

  • Crude Oil

    82.31
    -0.50 (-0.60%)
     

  • 10-Yr Bond

    4.7210
    +0.0690 (+1.48%)
     

  • Nikkei

    37,628.48
    -831.60 (-2.16%)
     

  • Hang Seng

    17,284.54
    +83.27 (+0.48%)
     

  • FTSE Bursa Malaysia

    1,569.25
    -2.23 (-0.14%)
     

  • Jakarta Composite Index

    7,155.29
    -19.24 (-0.27%)
     

  • PSE Index

    6,574.88
    +2.13 (+0.03%)
     

UOB Sells Brunei Retail Banking Business

Shares Investment

United Overseas Bank (UOB) has announced that its Brunei brunch (UOB Brunei) has sold its retail banking business to Baiduri Bank Berhad for BND65.044 million (equivalent to $65.044 million).

By a court declaration, the banking and credit facilities made to individual person who are customers of UOB Brunei and the current, saving and fixed deposit accounts (whether or not matured) maintained by customers with UOB Brunei will be transferred to Baiduri Bank.

The sale is in line with the group’s intention to rationalise its businesses and operations to achieve cost efficiencies, and to focus on building a business platform that is consistent with the business prospects in the country. UOB Brunei will continue to offer wholesale banking services to clients in Brunei Darussalam.



More From Shares Investment: