UOB's wealth drive into Hong Kong to buoy revenue growth

UOB is well positioned to exceed consensus forecasts for 4-5% annual revenue growth through 2028 on stronger fee income as the bank bolsters its wealth-management business. A new Hong Kong booking centre planned over the next three years will facilitate access to an influx of mainland Chinese wealth flows into the city, where overall net fund inflows jumped 193% jumped in 2025, according to Securities and Futures Commission data. Plans to expand its relationship-management (RM) team by 60% to 450 over the next five years should also help UOB stay competitive -- though this dwarfs DBS's estimated 1,000 and OCBC's July 1 announced plan to bolster RM headcount by 600 members by 2028. Yet even a gradual expansion this year will strengthen wealth fees from 1Q's modest 3% rise, helping offset flat net interest income.