Deputy chairman and CEO of United Overseas Bank(UOB) Wee Ee Cheong bought 100,000 ordinary shares for $34.475 per share via market transaction on May 7, after the bank reported a net profit of $1.49 billion for 1QFY2025.

The bank’s first quarterly result for 2025 was relatively unchanged from the net profit of $1.487 billion in the same period a year ago, and lower than the estimate of $1.54 billion by Bloomberg consensus.

The 100,000 ordinary shares that Wee bought in the company amounts to $3.45 million.

This increases his stake in the bank to 10.755% of the percentage of total number of ordinary voting shares, from the 10.747% previously. The total number of ordinary shares Wee holds in UOB is now 179.67 million shares.

Wee last bought 200,000 shares in UOB via market transaction on Feb 20. The shares were bought at $38.64975 apiece or $7.7 million in total.

Shares in UOB closed 6 cents higher or 0.174% up at $34.55 on May 8.