UOB to launch digital bank in Indonesia

TMRW is on track to be marginal profit positive in five years.

United Overseas Bank is planning to launch its digital bank TMRW in Indonesia this year, according to the company’s FY2019 financial results presentation.

In the presentation, the archipelago was marked as a new market in 2020 under the TMRW presentation deck, whilst highlighting a market opportunity of $10b for the whole ASEAN region.

The digital bank is on track to be marginal profit positive within five years, the presentation also read.

UOB first launched TMRW in Thailand in February 2019, as part of its plans to scale up its regional customer base by 5 million by 2024.