Banks in Singapore | Top 10 Banks in Singapore | The list of Top Banks in Singapore

Top 10 Banks list in Singapore
Banks in Singapore

Overview of Banks in Singapore

Singapore World best place for Banking Business. Here are the topmost reason which is helpful:-
  • Singapore government is very supportive and their policies is very significant so lots of foreign banks attract to build their branches in Singapore.
  • Singapore location is one of the best location on globe to build their branches.
  • Singapore is a developed country and high standards of living exists here.
That is the reason Singapore called Global Banking hub. As of 2013, Singapore Banking Sector Market worth is 2 trillions US Dollar.

Banking Structure in Singapore

In Singapore, There are 150 plus top level Banks. These are the various categories of Singapore banking system :-
  • Foreign Bank : There are almost 200 foreign banks in Singapore .
  • Full Bank : There are around 27 banks including HSBC, ABN Amro, BNP Paribas etc.
  • Merchant Bank: There are 42 Merchant Banks in Singapore including Credit Suisse Bank, Axix Bank etc.
  • Offshore Bank : There are around 37 banks in Singapore like Bank of Taiwan (BoT), KDB etc.
  • Wholesale Bank : There are 53 Wholesale banks located in Singapore. ING Bank, National Australia Bank etc.
  • Local Bank : There are 6 Local Bank only in Singapore in which , United Overseas Bank, Overseas China Banking Corporation, Development Bank of Singapore are main banks.

Here Are Top 10 Banks of Singapore

  1. Citibank Singapore
  2. Bank of Singapore
  3. HSBC Bank
  4. RHB Bank
  5. CIC Bank
  6. United Overseas Bank
  7. Maybank Singapore
  8. Standard Chartered Bank
  9. DBS Group
  10. Overseas Chinese Banking Corporation

1. Citibank Singapore :-

Citibank was founded 115 years ago in 1902 in USA. Its headquarter in Singapore is located in Temasek Avenue. With 10000 Employees , It is the biggest employer of Singapore. The Bank has 20 Branches and 1500 customers Touch Points. Citibank has many other business entities like- Citi Global Consumer Banking, Citi Commercial Bank etc. Citibank offers various banking and financial services like- Term Deposit, Health Insurance, Personal Loan etc.

2. Bank of Singapore :-

Bank of Singapore is the one of the biggest bank in Singapore with the total assests of 115.94 Billion Dollar as of 2017. Its headquarter is located in Market street. The Bank has many branches outside of Singapore like- Manila, Dubai, London, Hong Kong etc. By Asian Private Banker And By Global Finance , It was recognized as Best Private Bank from 2011 to 2016.

3. HSBC Bank :- 

HSBC Bank was incorporated in 1877, 140 years ago. It is the oldest bank of Singapore and its headquarter is located in Collyer Quay. The Bank has more than 10 branches in Singapore with 40 ATMs. It employed more than 3000 people in Singapore. The Bank provides various Banking and Financial Services in Commercial and Personal Banking Product to its Customer.

4. RHB Bank :-

RHB Bank was incorporated 56 years ago in 1961. Initially its name was United Malayan Banking Corporation Berhard (UMBC). The Bank has 7 branches in Singapore and it is Universal Bank in Singapore. The Bank Satisfies the Customer all way. APCSC Hong Kong has awarded with Best Customer Experience Management of The Award in Banking Service. It is also Popular in Malaysia.

5. CIC Singapore :-

CIC Singapore was incorporated in 1984. Its headquarter is situated in Marina Bay Financial Center. The Bank is owned by Credit Mutual Group. CIC Bank provides various Banking abd financial services like- Structured Finance, Treasury, Private Banking, Corporate Finance, SME Banking Services etc. The Bank provides Wealth Management Solutions To its customers.

6. United Overseas Bank :-

United Overseas Bank was incorporated in 1935. Its headquarter is located in Raffles PL. UOB has 500 branches in Singapore including Global branches. The Bank provides its banking and financial services in 19 countries. UOB is third largest bank in Singapore with total assets of 334.1 Billion US Dollar as of 2021.

7. Maybank Singapore :-

Maybank Singapore was incorporated 62 years ago in 1960. Its Singapore Headquarter is located in 2 Battery Road. The Bank has 27 Branches in Singapore and Its numbers of employees is more than 1800. Maybank provides Various Banking services like- Islamic Banking, Saving Account, Current Account, Investment, Lending Services. It is Qualifying Full Bank in Singapore and it has 5th rank in ASEAN.

8. Standard Chartered Bank :-

Standard Chartered Bank Singapore was estestablished 163 years ago in 1859. It is the oldest bank in Singapore and its headquarter is located in Marina Bay Financial Area. It’s a QFB Bank and got licensed in October 1999. The Bank has 18 branches including 30 ATMs. The Bank’s total assets value is 33 billion US Dollar. It is a subsidiary bank of Standard Chartered PLC.

9. DBS Group :-

DBS Group was incorporated in 1968 by Singapore Government. It is one of the largest bank in asia. The bank has total assets of 501.9 Billion USD as of 2019. The net profit 1.2 billion dollars reported by DBS in 2017. The Bank has total 4.6 Millions Customers And 22000 Employees. Its Headquarter is located in Marina Bay Financial Center, Singapore.

Overseas Chinese Banking Corporation :-

Overseas Chinese Banking Corporation was incorporated 90 years ago in 1932. Its headquarter is situated in Chulia Street, Singapore. The Bank has 600 branches all over the world and it employed 29706 employees by 2018. It has some global branches in 19 countries. This bank is 2nd biggest bank in Singapore by its assets. The total assets of bank is 521.3 billion dollar as of 2020.
Also read : Banks in Dubai

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