Our Shareholders

Performance

During the first half of 2010, UOB experienced a setback in its performance, primarily because of a system crash that compromised the bank’s data integrity.  The result was a slow process and subsequent plunge in the loan portfolio and client number.

However, during the second half of 2010, UOB bounced back with a strong performance after the system crash issues were fixed.  This bounce-back enabled the bank to finish its loan and deposit balances at higher levels than YE 2009.  It was truly God’s grace that made this happen.  As of September 30, 2010, we received a clean bill of health on our IT system after an IT audit was conducted.  Moreover, throughout the process, we were able to make our loan processing faster and more streamlined, implement PAR MMS (Portfolio at risk migration monitoring system) to bring the PAR under control, and strengthen the bank’s team work significantly.  It was a blessing in disguise.  We praise the Lord!

Key figures as of December 2010 were as follows:

Loan Portfolio: $6,494,626               Loan Client Number: 30,592

Deposit Balance: $4,865,607            Deposit Client Number: 84,861