UOB is the first local Singaporean bank to have won the regional award, according to The Asian Banker.

UOB has also been named the Best Retail Bank in Singapore.

The Asian Banker said UOB had distinguished itself through its outstanding retail business performance and customer-focused approach.

UOB head of personal financial services and private banking, Eddie Khoo, said the heart of UOB's business was its customers across the region.

"We have focused on creating a sustainable business that is built on a foundation of trust and designed around the lifestyle needs of our customers," he said in a release made available to The Jakarta Post on Tuesday.

Khoo further said: 'Our experience across the region also means we are well-placed to offer financial products and wealth management solutions best suited to the needs of needs of Asian consumers.'

The Asian Banker engaged a panel of international judges to review the financial performance, long-term growth and risk management of banks across the region.

UOB customers are provides services including a suite of retail deposits, loans, insurance, cards and investment products to help them manage their money and finance important milestones.

In 2013, UOB recorded a year-on-year increase in assets under management from US$66 billion to $75 billion. It has also increased its regional wealth management footprint from 29 wealth management centers in 2010 to 48 centers in 2013. This includes the opening of UOB's 11th Privilege Banking Center in China and its fourth Wealth Banking Center in Singapore. (ebf)

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