Press Release 2006
UOB Malaysia Ranks Top As The Foreign Bank With The Largest Branch Network In Malaysia
Kuala Lumpur, 20 July 2006 - United Overseas Bank (Malaysia) Bhd [UOB Malaysia] today announces the opening of its 38th and 39th branch in Jalan Bakri, Muar and Sibu, making it the foreign bank with the largest branch network in Malaysia.
In announcing the opening of the two new branches, Chan Kok Seong, Chief Executive Officer, UOB Malaysia said, "We are thrilled and excited with our two new operations in Jalan Bakri, Muar and Sibu and we hope to carry across our enthusiasm and leverage on our commitment of providing quality products and customer excellence to the people in Muar and Sibu. These locations are carefully surveyed and selected based on the growth potentials of these areas and in line with our plans to further broaden our channels and grow our consumer and small and medium-sized enterprise (SME) banking business".
Responding to Bank Negara's recent approval on licenses for two other new locations, Chan revealed, "We are in the midst of preparing for the birth of two other branches in Kota Damansara and Kepong. With the addition of four new branches, UOB Malaysia will have in total 43 branches in Malaysia by end 2006."
The move is in line with UOB Malaysia's objectives to further expand its network in Malaysia and strengthening the Group's regional presence in Singapore, Thailand, Indonesia, Hong Kong and China.
The opening of the four new branches is made possible with Bank Negara's branching liberalisation policy last December, which allows locally-incorporated foreign banks to set up four additional branches in Malaysia in the year 2006.
"We are also currently studying the option to open more branches in non-urban areas in line with Bank Negara's latest policy to allow locally-incorporated foreign banks to branch into non-urban areas. We certainly look forward to bringing our extensive range of commercial banking and personal financial services to a larger community through a wider network. With the growing network, we'll be able to provide our customers with greater convenience and accessibility," Chan added.
To tie back to the branch opening celebrations, customers who sign up for any UOB products from now till 30 September 2006 at any UOB branches will get to enjoy an exclusive rate of 3.58% p.a. for Fixed Deposits with 6 months tenure (normal rate 3.38%). On top of this attractive offer, customers at the newly open branches will also receive complimentary sign-on gifts upon signing up for any products at Daerah Muar and Sibu branches.