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Trading

List of Banks in Singapore

Published by Gbaf News

Posted on June 13, 2012

1 min read

· Last updated: June 11, 2018

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Banking Central Banks Digital banking Wealth Management

Keppel Bank
DBS Bank
ABN AMRO
United Overseas Bank (UOB)
Overseas Union Bank (OUB)
BNP Paribas
Monetary Authority of Singapore
Citibank Singapore
Oversea-Chinese Banking Corporation (OCBC)
Malayan Banking
Standard Chartered Bank
Citibank International Personal Bank Singapore
POSBank
Hongkong and Shanghai Banking Corporation
Tat Lee Bank

Key Takeaways

Singapore’s banking sector is dominated by three local full banks: DBS, OCBC, and UOB.
Foreign banks like ABN Amro, BNP Paribas, Citibank, HSBC, and Maybank operate under Qualifying Full Bank licences.
The Monetary Authority of Singapore (MAS) supervises banking operations and issues licences.
Several legacy banks such as Keppel Bank, Tat Lee Bank, and Overseas Union Bank have since merged into larger institutions.
Digital full banks like Trust Bank illustrate the sector’s recent innovation under MAS frameworks.

References

Frequently Asked Questions

What is the role of the Monetary Authority of Singapore?

MAS acts as Singapore’s central bank and financial regulatory authority overseeing banking licences, monetary stability, and currency issuance.

Who are the three major local banks in Singapore?

The three major local dominant banks are DBS Bank, Oversea‑Chinese Banking Corporation (OCBC), and United Overseas Bank (UOB).

What are Qualifying Full Banks in Singapore?

Qualifying Full Banks (QFBs) are selected foreign banks such as ABN Amro, BNP Paribas, Citibank, HSBC, Maybank given enhanced retail privileges under MAS liberalisation.

What happened to Keppel Bank and Tat Lee Bank?

Keppel Bank and Tat Lee Bank merged to form Keppel TatLee Bank in 1998, which was later acquired and integrated into OCBC by 2002.

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List of Banks in Singapore

Key Takeaways

References

Frequently Asked Questions

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