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UOB reports higher wealth management income

UOB’s group retail segment, which includes its private banking division, saw profits increase by 12.1% to S$1.4 billion (US$999.8 million) in 2015, driven by high income from wealth management clients, its latest year-end results found. This segment covers the consumer, privilege, business and private banking units at the Singaporean lender. The private banking arm is defined as catering to high…

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