Singapore, Jan 23, 2026, 14:49 SGT — Regular session.
- Shares of United Overseas Bank jumped roughly 4.3% in afternoon trading, hitting a new high of S$39.41
- Broker upgrades sparked a rally that boosted other Singapore lenders as well
- Investors are focusing on UOB’s results due out February 24
Shares of United Overseas Bank (UOB) climbed 4.3% to S$39.23 in mid-afternoon trading on Friday in Singapore, after hitting a fresh record peak at S$39.41 earlier in the session. (Google)
The move pushed Singapore’s third-largest listed bank toward its best close ever, while the heavyweight Straits Times Index hovered near record territory. OCBC also reached fresh highs, according to the Business Times. (The Business Times)
This rally is pulling double duty: betting on banks weathering earnings season and snapping back after some investors skipped UOB’s late-2025 dip. Macquarie’s Jayden Vantarakis bumped the stock to “outperform” and raised his target to S$41, tagging it a likely “relative-value catch-up play.” (The Business Times)
UOB maintained its pace with capital moves, revealing in a daily buy-back notice that it snapped up 37,000 shares on Jan. 22 and cancelled them. The bank paid between S$36.88 and S$37.62 per share. (Siasset)
UOB’s Sydney branch priced A$2.0 billion in senior unsecured notes maturing in 2031. The deal breaks down into A$750 million of floating-rate notes at 3-month BBSW plus 0.72%, and A$1.25 billion of fixed-rate notes at 5.023%. (BBSW is a key Australian short-term interest-rate benchmark.)
The risk hasn’t disappeared. When benchmark rates drop, net interest margins — the gap between loan earnings and deposit costs — can get squeezed. UOB has demonstrated it’s willing to set aside hefty credit allowances to build cushions when needed. (Reuters)
Friday’s rally leaves scant margin for error if revenue from trading, fees, or wealth inflows slows, or if the bank flags rising credit costs.
UOB will release its full-year 2025 results on Feb. 24, ahead of the market open. Investors will be watching closely for updates on dividends, capital returns, and credit quality. (Sgx)
