SINGAPORE (Jan 25): United Overseas Bank (UOB) has completed a capital injection of two billion yuan (S$425 million or about RM1.33 billion) into its subsidiary in China to strengthen its connectivity, progressive solutions and sustainability capabilities. 

This is UOB’s second capital injection to UOB China, following an increase in the bank’s registered capital from three billion yuan to 5.5 billion yuan in 2015. 

UOB China has maintained a robust compound annual revenue growth of 13% since its inception in 2008. Its net profit before tax hit a record high in 2021, more than double that in 2018, the company said in a statement ... click on link for full story on theedgesingapore.com.