Analyst worried over UOB's property exposure

Housing loans account for 28% of UOB’s portfolio.

According to Maybank Kim Eng, property exposure still a concern. Housing loans currently account for 28% of UOB’s loan portfolio end-June vs 20% for DBS. Moreover, 25% of its borrowers have more than one property loan as opposed to just 4% for DBS. 

"Positioned for further yield curve steepening. As with DBS, management has shortened the duration of its investment portfolio and is currently neutral to rate increases. Both banks nevertheless maintain the view that the yield curve is likely to steepen further but that the banks are positioned to take advantage of this."