UOB Hong Kong ties services to win cross-border business

The bank is gearing up for stronger private banking growth by 2030.

United Overseas Bank Ltd. Hong Kong Branch (UOB Hong Kong) is tying its wholesale, private banking, treasury, investment banking, and advisory services together as it targets companies expanding into Mainland China and Southeast Asia.

“The objective is not simply to offer more products, but to provide integrated advice that reflects the full picture of a client’s business and family priorities,” UOB Hong Kong CEO George Tung told Hong Kong Business.

Tung, who took the role in July, said his priority is to boost connections between Hong Kong, Mainland China, and Southeast Asia.

The bank plans to help companies establish operations in Southeast Asia, including finding local partners and navigating tax and tariff issues, alongside financing.

A UOB business outlook study in July found that nearly 80% of Hong Kong companies plan to expand overseas, with Southeast Asia and Mainland China among their preferred destinations.

Technology and artificial intelligence (AI) are another priority. UOB uses AI and advanced data analysis in more than 300 areas across the group and operates more than 30 AI-powered chatbots.

“Our technology and AI investments should translate into faster service, sharper insights, and more time for our bankers to focus on higher-value advisory conversations,” Tung said.

UOB Hong Kong is also expanding its private banking business, targeting a threefold increase in client advisers and fivefold growth in assets and revenue by 2030.

The bank plans to deepen sector expertise in technology, AI infrastructure, advanced manufacturing, electric vehicles, renewable energy, real estate, and infrastructure.

UOB will also strengthen governance, risk controls, and staff development, Tung said.