"Dividend for the year will be guided by the desire to retain a strong credit rating; opportunistically grow the balance sheet; adjust for potential risk-weighted asset inflation from credit migration; and sustain the dividend," said Mr Guha in a recent note, adding that scrip dividend is also an option.
The final dividend of 55 Singapore cents per share and special dividend of 20 cents per share have been approved by shareholders and will be paid out on June 29, 2020. Against this backdrop, the bank has set aside sufficient provisions to strengthen coverage, said Mr Wee. UOB's unsecured non-performing assets coverage ratio stood at 206 per cent in Q1.
About half of UOB's loan book is made up of large corporates, while small and medium-sized enterprises make up around 15 per cent. The remaining 35 per cent are to individuals.
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