SingaporeÆs great bank-off

OCBC wants to buy Keppel. DBS wants OUB. Now UOB wants OUB. What''s happening to the Singapore banking market?

Nick Lord

July 02, 2001

The announcement by United Overseas Bank (UOB) that it wants to buy its competitor Overseas Union Bank (OUB) took few by surprise. Ever since OCBC announced its intention to buy Keppel Capital Holdings over two weeks ago, there has been something of a frenzy in the Singapore banking market. After some initial speculation, DBS announced a S$9.4 billion bid for OUB.

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