UOB adds 15 branches in Malaysia, Thailand and Vietnam after acquisition of Citi consumer business

SINGAPORE – UOB has added 15 branches to its network across Malaysia, Thailand and Vietnam, after finalising the acquisition of Citigroup’s consumer banking businesses in those countries.

The move brings its total number of branches in the three countries to over 200, at a time when Singapore’s third-largest bank aims to take a bigger bite of South-east Asia’s vast retail market.

More than 90 per cent of Citi consumer banking employees in the three countries have also moved to UOB, helping to expand the bank’s regional workforce from 6,000 to about 10,000. Most of them are front-line workers.

Ms Jacquelyn Tan, UOB’s head of group personal financial services, said the Citi acquisition has helped the bank beef up its cards business and further diversify its income beyond deposits, secured loans such as mortgages and car loans, and wealth management.

UOB has already…