Singapore is the financial hub for Southeast Asia. The Monetary Authority of Singapore is the central bank and prime financial regulatory authority of Singapore. The monetary authority controls and oversees banking, insurance, securities and all economical sector. It was founded in 1971. There are more than 200 banks are operating in Singapore. The total assets of the entire banking industry were nearly US$2 trillion. In this post, you will get all links about Banks in Singapore.
Read Also: List of Banks in China
Central Bank of Singapore
The central Bank of Singapore Named Monetary Authority of Singapore at a glance
Headquarters: 10 Shenton Way MAS Building, Singapore 079117
Established: 1 January 1971
Ownership: 100% state ownership
Chairman: Tharman Shanmugaratnam
Currency: Singapore dollar
Reserves: US$273.1 billion
Bank rate: 1.67%
List of Foreign Banks
Here you can learn about Foreign Banks in Singapore.
- Standard Chartered Singapore
- Bangkok Bank Public Company Limited
- Bank of America, National Association
- Bank of China Limited
- Bank of East Asia Limited
- Bank of India
- Bank of Tokyo-Mitsubishi UFJ Limited
- Hongkong and Shanghai Banking Corporation Limited
- Maybank Singapore Limited
- Hong Leong Bank Berhad
- Indian Bank
- Indian Overseas Bank
- JPMorgan Chase Bank, National Association
- PT Bank Mandiri (Persero) Tbk.
- PT Bank Negara Indonesia (Persero) Tbk.
- RHB Bank Berhad
- CIMB Bank
- Sumitomo Mitsui Banking Corporation
- UCO Bank
- Ping An Bank
Wholesale bank licenses were originally issued in December 2001 to replace “restricted bank (RB)” licenses to reflect the additional services that these banks may provide. These banks can provide the same range of services as formal banks, but they do not handle Singapore dollar banking and can only have one main branch.
- Australia and New Zealand Banking Group Limited
- Barclays Bank PLC
- BNP Paribas Private Bank
- Chiao Tung Bank Company Limited
- Commerzbank Aktiengesellschaft
- Credit Suisse
- Deutsche Bank Aktiengesellschaft
- Dresdner Bank
- EFG Bank
- First Commercial Bank Limited
- Fortis Bank S.A./N.V.
- Habib Bank Limited
- HSBC Private Bank (Suisse) SA
- Industrial and Commercial Bank of China
- ING Bank N.V.
- KBC Bank N.V.
- Korea Exchange Bank
- Landesbank Baden-Wuerttemberg
- Mizuho Bank Limited
- Moscow Narodny Bank Limited
- National Australia Bank Limited
- National Bank of Kuwait SAK
- Norddeutsche Landesbank
- Northern Trust Company
- Royal Bank of Scotland PLC
- Sanpaolo IMI S.P.A.
- State Street Bank and Trust Company
- UBS AG
- UFJ Bank Limited
- WestLB Aktiengesellschaft
- Absa Group Limited
- Agricultural Bank of China
- Arab Bank PLC
- Banca di Roma S.p.A.
- Banca Monte dei Paschi di Siena S.P.A.
- Bank of Communications
- Bank of New York Mellon
- Bank of Taiwan
- CIMB Bank
- Canadian Imperial Bank of Commerce
- China Construction Bank Corporation
- Chang Hwa Commercial Bank Limited
- Shinhan Bank
- Clariden Leu
- Commonwealth Bank of Australia
- Crédit Agricole (SUISSE) SA
- Crédit Industriel et Commercial
- Banque Internationale à Luxembourg SA
- DNB Bank ASA
- DZ Bank AG Singapore Branch
- Hana Bank
- Hang Seng Bank Limited
- HSH Nordbank AG
- Hua Nan Commercial Bank Limited
- International Commercial Bank of China
- Korea Development Bank
- Krung Thai Bank Public Company Limited
- Land Bank of Taiwan
- Lloyds Bank plc
- Mitsubishi Trust and Banking Corporation
- Nordea Bank Finland PLC
- Norinchukin Bank
- Philippine National Bank
- PT Bank Mandiri (persero) Tbk.
- Raiffeisen Zentralbank Oesterreich AG
- Royal Bank of Canada
- Siam Commercial Bank Public Company Limited
- Skandinaviska Enskilda Banken AB
- State Bank of India
- Sumitomo Trust and Banking Company Limited
- Svenska Handelsbanken AB
- Toronto Dominion Bank
- Westpac Banking Corporation
- Woori Bank
For those who consider a career in the banking sector in Singapore, this is the top list of banks in Singapore is very helpful on where to start. To get more information, please refer to our list of financial institutions in Singapore.
Development Bank of Singapore (DBS) – The bank was established by the Singapore Government in 1968. It holds a long-term Aa1 rating. DBS is Southeast Asia’s biggest bank which operates more than 100 branches all over the country. The bank branches is available in India, Japan, China, Myanmar, Hong Kong, UAE, Vietnam, Taiwan, Philippines, Malaysia, United Kingdom and the United States. The bank provides corporate banking, personal banking, consumer banking, asset management, brokerage services, treasury and capital market services.
United Overseas Bank (UOB) – In 1935, The bank was established as the United Chinese Bank in Singapore. Later, Singapore gained independence in 1965, it was renamed as United Overseas Bank (UOB). UOB is the third biggest bank in Southeast Asia. The bank provides personal and commercial banking services. UOB also holds Aa1 rating long-term. The bank is the third-biggest bank in Southeast Asia and has 500 offices in 19 countries of the world.
Overseas Chinese Banking Corporation (OCBC) – The bank is the second-biggest bank in Southeast Asia. There are lots and offices and branches in 18 countries in the world. The bank has a positive name in the Singapore banking market.
Hongkong and Shanghai Banking Corporation HSBC is one of the largest financial organizations in the world. There are 400 offices maintains by HSBC across 70 countries of the world. In 1877, HSBC started its operations first in Singapore. The bank serves all types of banking like commercial banking, retail banking, investment banking, private banking, securities services and capital market services.
Standard Chartered The bank is one of the biggest banks in the world. Standard Chartered Bank was established in 1858 and it is a British financial organization. The bank has more than 1200 branches across 70 countries of the world. In Singapore, the bank started its operation in 1859 but it achieved Qualifying full bank license (QFB) in 1999. The bank has 17 branches all over Singapore. The bank serves private banking, corporate banking, cash management, corporate finance, lending, foreign exchange and securities services.
Citibank The bank was established in 1812 but in Singapore, the bank started its operation in 1902. Citibank has 2600 branches across 160 countries in the world. Citibank Singapore provides a variety of financial services to its customers. The bank serves, investment and deposits, mortgages, insurance, debit cards and other banking services.
Bank of China The bank was established in 1912. In terms of market assets, it is the fifth-biggest bank in the world. Bank of China is a government-owned, the biggest commercial bank of China and one of the leading bank in Singapore. The bank of China started through its first brach in 1936. The bank provides financial services, investment and management, trade and finance, corporate loans, investment advisory services, wealth management, RMB services, foreign exchange transactions. The bank also holds a Qualified Wholly Funded Bank (QFB) license.
Maybank Maybank’s business in Singapore started in 1960 as a fully licensed commercial bank. Maybank is currently one of the top five banks in ASEAN and a qualified wholly-owned bank in Singapore. As of June 2008, Maybank’s total assets in Singapore reached S$22.7 billion.
These are the best and selected banks in Singapore. You can visit the site to gather more information. All links and official information are included herewith.