3 reasons why UOB is top pick among Singapore banks

Barclays assessment highlights bank's key advantages.

"UOB remains our top pick among the local Singapore banks with the most diverse ASEAN footprint, strongest capital position and highest dividend yield (3.8%)," said Barclays analyst Sharnie Wong in the research firm's comprehensive Asia ex-Japan Banks Monitor report.

The pronouncement came as UOB’s 2Q13 results were released, highlighting a strong funding advantage and business growth opportunity in Indonesia and Thailand, noted Wong.

"UOB was able to extend USD lending to Indonesia and Thailand corporates as liquidity tightened in the region on concerns over Fed tapering," Wong added.

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