How many banks are there in Singapore?

How many banks does Singapore have?

There are presently five locally incorporated full banks in Singapore, owned by three banking groups. These full banks have the liberty to provide any financial service as permitted by the Banking Act.

What are the main banks in Singapore?

Top Banks in Singapore

  • DBS Bank. DBS Bank Ltd (formerly Developmental Bank of Singapore) is the largest bank in Singapore and South East Asia in terms of total assets. …
  • OCBC Bank. …
  • Standard Chartered. …
  • Citibank Singapore. …
  • HSBC Bank.

What types of banks are there in Singapore?

Browse by Entity Types

  • Full Bank (Locally Incorporated)
  • Full Bank (Branch)
  • Merchant Bank (Locally Incorporated)
  • Merchant Bank (Branch)
  • Wholesale Bank (Locally Incorporated)
  • Wholesale Bank (Branch)
  • Finance Company.
  • Credit/Charge Card Issuer.

Which Singapore bank is best?

Among all available banks, you should really consider the following top banks in Singapore:

  • DBS (Development Bank of Singapore) and POSB.
  • United Overseas Bank (UOB)
  • Overseas Chinese Banking Corporation (OCBC)
  • Citibank.
  • The Hong Kong and Shanghai Banking Corporation Limited (HSBC)
  • Standard Chartered.

Which banks have headquarters in Singapore?

Singapore Banks Listing

  • DBS Singapore. DBS Bank (previously known as The Development Bank of Singapore Limited) is a bank in Singapore, established by the Government in June 1968. …
  • UOB Singapore. …
  • Citibank Singapore. …
  • Maybank Singapore. …
  • Standard Chartered Singapore. …
  • SBI Singapore. …
  • Bangkok bank Singapore. …
  • CIMB Bank Singapore.
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Are Singapore banks safe?

Singapore’s banking system is known to be safe and well regulated. MAS has rules to ensure that banks and finance companies are well managed, well capitalised and have enough liquidity to meet any unforeseen needs. Deposit insurance is just another layer of protection for small depositors.

Which local bank is the best?

Best banks and credit unions:

  • Best overall, best for customer service: Ally Bank.
  • Best overall, best for cash-back rewards: Discover Bank.
  • Best overall, best for ATM availability: Alliant Credit Union.
  • Best overall, best for overdraft options: One.
  • Best overall, best for rates: Varo Bank.
  • Best overall, best for tools: Chime.
Inside view of Asia