UOB’S target to achieve a return on equity (ROE) of 14 per cent is “decent”, said UOB group chief executive and deputy chairman Wee Ee Cheong.

UOB – Singapore’s third-largest bank – achieved a core ROE of 14.2 per cent for its financial year ended 2023, up 2.3 percentage points from the previous year.

Looking ahead, UOB is targeting an ROE of 13 to 14 per cent, with the chance for further upside if the bank’s fees from its wealth business or trading activities do well, Wee said at the bank’s annual general meeting (AGM) on Thursday (Apr 18).