UOB will transfer its retail banking business in China to Fubon Bank (China). The transfer work is expected to be completed in the third quarter of this year, and the products and services at this stage will not change.

UOB's personal retail banking services in China include personal clients' accounts, deposits, loans and related wealth management products. During this transfer process, UOB will communicate and cooperate closely with Fubon Huayi Bank to assist customers in the smooth transition of various services and ensure the safety of customer accounts and funds.

UOB pointed out that it has actively promoted strategic transformation since 2018. This business adjustment is an important decision for UOB's business transformation. However, other businesses in China, including wholesale banking and global financial businesses, will not be affected.

UOB also pointed out that the group's retail banking business in other countries and regions will not be affected by the adjustment of personal business in China.

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