UOB profits Q1 2022
Singapore banks report lower earnings in unison
Singapore banks report lower earnings in unison
DBS, OCBC, and UOB all saw their profits fall 10% year-on-year.
UOB profits down 11% to S$906m in Q1 amidst market volatility
Loan fees grew, but credit card and wealth fees recorded declines.
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BCG’s Tushar Agarwal emphasises that transformation relies on mobilising people and understanding their motivations
He highlights the importance of cultural context, workforce mobilisation, and data-driven strategies in financial sector innovation.