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UOB’s WM income drops but HNW activity trends up

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United Overseas Bank’s (UOB) wealth management division saw a dramatic fall in its non-interest income due to softer investor appetite and rocky market conditions in the year’s first quarter, while client assets increased year-on-year (YOY), according to the lender’s mid-year financial report. Income for the Singaporean bank’s wealth management unit dropped in the second quarter by 42% to S$110 million…

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