UOB on Friday (Mar 8) stated its complete belongings underneath administration from feminine clients has grown during the last 5 years, rising 35 per cent between end-2020 and 2023 alone.

This, together with a rise in card billings and financial savings, factors to the rising financial energy of girls, stated the financial institution. It was referencing its information launched in keeping with International Women’s Day, which falls on Mar 8.

Women accounted for 60 per cent of the financial institution’s fixed-deposit accounts as at December 2023. UOB additionally noticed a 6 per cent rise in common savings-account balances amongst feminine clients in 2023, in contrast with 2022.

From 2019 to 2023, complete card billings for the financial institution’s Lady’s Debit and Credit Cards jumped 70 per cent, supported by a doubling within the variety of transactions in the identical interval. Average lively spending per Lady’s Credit Card was additionally up by greater than 50 per cent prior to now 5 years, stated the financial institution.

Launched in 1989, the Lady’s Card presents rewards for ladies who spend and save with UOB, with particular perks that align with ladies’s roles, duties and wishes. It additionally permits holders to pick out their most well-liked rewards class each quarter.

These findings level to disposable revenue progress amongst Lady’s Cardholders, with extra qualifying for the upgraded tiers of the women-centric bank card.

UOB stated the variety of Lady’s Solitaire Cards, the next tier of the Lady’s Card, climbed by greater than 250 per cent from 2019 to 2023. This tier has a minimal annual revenue requirement of S$120,000.

Citing its Asean Consumer Sentiment Study 2023, UOB famous that 70 per cent of its feminine respondents in Singapore expressed considerations over rising inflation. More than 60 per cent had been additionally apprehensive about their long-term monetary commitments.