UOB’s story began in 1935, rooted in the vision and determination of Sarawak-born entrepreneur Datuk Wee Kheng Chiang. Singapore was a bustling trade hub under British rule, presenting a prime opportunity for any forward-thinking businesses. Recognising this potential, Datuk Wee expanded his Sarawak-based ventures to Singapore, founding the United Chinese Bank (UCB).

UCB was established with an authorised capital of 4 million Straits dollars (the forerunner of the Singapore dollar) and a paid-up capital of 1 million Straits dollars.

Original share certificate of UCB (1935)

Datuk Wee Kheng Chiang, founder of United Chinese Bank (UCB)

Chairman Datuk Wee Kheng Chiang (front row, centre) with directors and employees of United Chinese Bank at his Tanjong Rhu home in 1937

UCB’s seven founding directors, including other prominent Hokkien businessmen, shared a common goal: to provide financing for local Chinese merchants and community.Operating from a single office in Raffles Place’s Bonham Building, UCB officially opened its doors on 1 October 1935, with Datuk Wee serving as UCB’s inaugural chairman.

Datuk Wee’s entrepreneurial spirit, foresight and rags-to-riches story not only shaped UCB’s early success, but also established the values that continue to define UOB today: being honourable, enterprising, united and committed.