List of Banks in Singapore

Singapore is well recognized as an international financial center and important wealth management and insurance hub in Asia. The Singapore’s banking system includes more than 150 deposit-taking institutions, of which only 6 are local banks. The cumulative total assets of Singapore’s banking sector exceed US$2 trillion. Monetary Authority of Singapore (MAS) is the central bank of the country. The three largest banks in Singapore are DBS, OCBC and UOB. Below is a list of the popular and best banks in Singapore.

Top 5 Banks in Singapore

The table shows the five largest banks in Singapore ranked by total assets in billions of U.S. dollars.

Rank Bank Total Assets, US$b
1 DBS Group 553.980
2 Oversea-Chinese Banking Corp 417.296
3 United Overseas Bank (UOB) 375.790
4 Standard Chartered * 121.454
5 Maybank Singapore 53.284

Total assets as of December 31, 2022, unless otherwise noted.
* Data as of June 30, 2023

DBS Bank

DBS Bank Ltd (formerly Developmental Bank of Singapore) is a multinational financial services company and the largest bank in Singapore and South East Asia. It has a presence in almost 20 markets, with over 12 million retail and corporate customers and around 40,000 employees. DBS was established in 1968 and today has about 150 domestic branches. It is the safest and best bank in Singapore and Asia according to Global Finance magazine.

OCBC Bank

Oversea-Chinese Banking Corp (known as OCBC Bank) is the second-largest banking group in Singapore by assets, deposits and loans. With about 30,000 employees, it maintains over 420 branches and representative offices in 19 countries. OCBC provides a broad array of consumer, corporate, investment, private banking and insurance services as well as treasury, stockbroking and wealth management solutions.

United Overseas Bank

Established in 1935, United Overseas Bank (UOB) is a multinational financial corporation with about 470 branches in South East Asia as well as offices in Australia, USA, Canada, the UK and France. The domestic network includes 73 branches and hundreds of ATMs. UOB is the third biggest Singaporean bank in terms of assets. UOB shares are traded on the Singapore Exchange (SGX), with a market capitalization of US$46 billion as of December 1, 2024. The company’s headquarters is located at 80 Raffles Place.

Standard Chartered (Singapore)

Standard Chartered Bank (Singapore) is the largest foreign bank in the country. It was among the first international banks to receive a Qualifying Full Bank licence in Singapore. It offers current and savings accounts, debit and credit cards, personal and auto loans, mortgages, investments, industrial property loans, insurance, cash management, FX solutions, Singapore dollar time deposits, online banking and more. It employs over 9,000 staff and operates through 16 branches and 30 ATMs.

Maybank Singapore

Maybank Singapore Limited is one of the systemically important banks in the country. The first branch was opened in 1960 and today Maybank has 18 branches, 4 wealth centres, 11 ATMs and more than 2,000 employees in Singapore. It offers quality financial products and services including retail, commercial and SME banking, private banking and wealth management. The company is a subsidiary of Malayan Banking Berhad, one of the leading financial services groups in Asia.

Citibank Singapore

Citibank Singapore Ltd, one of the top 10 banks in Singapore, is a subsidiary of Citigroup Inc. It was the first American bank to establish a branch in Singapore. Citi was awarded a Qualifying Full Bank (QFB) licence by Monetary Authority of Singapore in 1999. Today, the company employs over 9,500 people and has over 1,500 customer touch points islandwide.

HSBC Singapore

HSBC Bank (Singapore) Ltd is a wholly-owned subsidiary of British HSBC Holdings plc. It offers consumer, commercial, private and investment banking, wealth management, trustee and capital markets services as well as car, travel, personal accident, international health, home and life insurance. HSBC is the oldest bank in Singapore.

BNP Paribas Singapore

BNP Paribas Singapore is the group's hub for Southeast Asia. It provides a broad array of financial products and services to local, regional and multinationals corporations, financial institutions, and high-net-worth clients. It employs approximately 2,000 people and provides corporate and institutional banking, wealth and asset management, and securities services. The company is a subsidiary of French giant BNP Paribas Group.

State Bank of India

State Bank of India, Singapore Co. (or SBI Singapore), founded in 1977, provides a broad array of retail and corporate banking services including current accounts, fixed and foreign currency deposits; personal, home, bridging and student loans; credit cards, secured overdraft, commercial property lending, investments, premium and asset financing, lines of credit, syndication facilities, escrow services, corporate and global remittances, insurance, and internet banking.

Bank of China

Bank of China Ltd, Singapore Branch is one of the largest foreign banks in the country. It offers RMB services, corporate and personal loans, deposits, credit and debit cards, foreign exchange, remittance, treasury and financial institutions services, wealth management, private banking, trade finance, banker's guarantee, insurance, unit trusts, online and mobile banking, safe deposit boxes, and more. BOC Singapore Branch was established at Cecil Street in 1936 and received a Qualifying Full Bank licence in 2012.

RHB Bank

RHB Bank Berhad Singapore (RHBS), founded in 1961, is a fully-licensed bank serving individuals and corporations through five main business areas: Commercial Banking, Wealth Management & Personal Financial Services, Corporate Banking, and Treasury and Investment Banking. It offers deposit and lending products, Islamic banking, insurance, foreign exchange, online banking and more. RHBS operates seven branches and 12 currency exchange counters. The company is a subsidiary of Malaysian RHB Bank.

Popular Online Banks in Singapore

GXS Bank Pte Ltd is a full digital bank owned by Grab Holdings Inc and Singtel. It was officially launched in September 2022.

Maribank Singapore Pte Ltd is a digital bank owned by the leading payments and financial services provider Sea Limited.

Trust Bank Singapore, launched in September 2022, is a challenger bank backed by Standard Chartered and FairPrice Group. It offers no annual fee credit card, fee-less savings account and insurance services.

Foreign Banks in Singapore

Here is a list of branches, subsidiaries and representative offices of foreign banks operating in Singapore.

  • ABN AMRO Bank N.V., Singapore Branch
  • ABN AMRO Clearing Bank N.V., Singapore Branch
  • Agricultural Bank of China
  • ANZ Singapore
  • Arab Bank PLC (Singapore)
  • BBVA Singapore Branch
  • Banco Santander S.A., Singapore Branch
  • Bangkok Bank Public Company
  • Bank J. Safra Sarasin, Singapore
  • Bank Julius Baer & Co
  • Bank of America Singapore Ltd
  • Merrill Lynch (Singapore) Pte. Ltd
  • Bank of Baroda, Offshore Branch
  • Bank of China Ltd
  • Bank of Communications
  • Bank of East Asia Limited
  • Bank of India
  • Bank of Montreal, Singapore Branch
  • Bank of New York Mellon (Offshore Bank)
  • Bank of Nova Scotia, Singapore Branch
  • Bank of Taiwan
  • Bank of Tokyo-Mitsubishi UFJ
  • Barclays Bank Plc, Singapore Branch
  • BNP Paribas Singapore
  • CA Indosuez (Switzerland)
  • Canadian Imperial Bank of Commerce
  • Cathay United Bank, Singapore Branch
  • Chang Hwa Commercial Bank Limited
  • China CITIC Bank International Ltd
  • China Construction Bank
  • China Merchants Bank
  • CIMB Bank Berhad
  • Citibank Singapore Limited
  • Citibank, N.A.
  • Commerzbank AG
  • Commonwealth Bank of Australia
  • Credit Agricole Corporate and Investment Bank
  • Credit Industriel ET Commercial
  • Credit Suisse (Singapore) Limited
  • CTBC Bank Co., Ltd
  • Deutsche Bank AG, Singapore (One Raffles Quay, South Tower)
  • DNB Bank ASA
  • DVB Bank SE (part of the DZ BANK Group)
  • DZ Bank AG, Singapore Branch
  • E.SUN Commercial Bank
  • EFG Bank Singapore
  • Emirates NBD, Singapore Branch
  • First Commercial Bank
  • Habib Bank Limited
  • Hang Seng Bank Ltd
  • Hong Leong Bank Berhad
  • HSBC Singapore
  • HSH Nordbank AG
  • HSBC Bank (Singapore) Ltd
  • Hua Nan Commercial Bank Limited
  • ICBC Standard Bank Plc, Singapore Branch
  • ICICI Bank ltd
  • Indian Bank
  • Indian Overseas Bank
  • Industrial and Commercial Bank of China
  • ING Bank N.V.
  • Intesa Sanpaolo SpA
  • JPMorgan Chase Bank, N.A.
  • KBC Bank N.V.
  • KEB Hana Bank of Singapore
  • Korea Development Bank, The
  • Krung Thai Bank Public Company
  • Land Bank of Taiwan
  • Landesbank Baden-Wuerttemberg
  • Lloyds Bank plc
  • Macquarie Bank Ltd, Singapore Branch
  • Maybank Berhad
  • Mega International Commercial Bank
  • Mitsubishi Trust and Banking Corporation
  • Mizuho Bank Limited
  • Morgan Stanley Asia International
  • National Australia Bank Limited
  • National Bank of Kuwait (NBK)
  • Natixis
  • Norddeutsche Landesbank
  • Nordea Bank S.A., Singapore Branch
  • Norinchukin Bank (Offshore Bank)
  • Northern Trust Company
  • Philippine National Bank
  • PT Bank Mandiri (Persero)
  • PT Bank Negara Indonesia (Persero)
  • Qatar National Bank (QPSC)
  • Rabobank Singapore
  • Raiffeisen Bank International
  • RHB Bank Berhad
  • Royal Bank of Canada
  • Royal Bank of Scotland Plc
  • Shanghai Commercial & Savings Bank
  • Shinhan Bank
  • Siam Commercial Bank Public Company
  • Skandinaviska Enskilda Banken AB
  • Societe Generale
  • Standard Chartered Bank
  • State Bank of India
  • State Street
  • Sumitomo Mitsui Banking Corp
  • Svenska Handelsbanken
  • Sumitomo Mitsui Trust Bank Ltd
  • Taipei Fubon Commercial Bank
  • Taishin International Bank
  • The Hokkoku Bank
  • The Iyo Bank, Singapore Branch
  • UBS AG, Singapore (One Raffles Quay, North Tower)
  • UCO Bank, Singapore
  • UniCredit Bank AG, Singapore Branch
  • Union de Banques Arabes et Francaises
  • Wells Fargo Bank, N.A.
  • Westpac Banking Corp
  • Woori Bank, Singapore Branch
  • Toronto Dominion Bank
  • VTB Capital plc (Singapore)

Last updated February 1, 2025