# List of banks in Singapore

This is a list of banks with operations in Singapore. Location of incorporation is provided in brackets for foreign banks. There are, at present over 150 banks and deposit-taking institutions, and 45 banks with representative offices in Singapore. (EFA=Exempt Financial Adviser; ACU=Asian Currency Unit; SGS=Singapore Government Securities Market)

## Commercial banks

Commercial banks in Singapore may undertake universal banking, such as the taking of deposits and the provision of cheque services and lending, as well any other business authorised by the Monetary Authority of Singapore, including financial advisory services, insurance brokering and capital market services, as long as they are permitted under section 30 of the Banking Act. Since 18 July 2001, banks were no longer permitted to engage in non-financial activities.

### Local Banks

In a bid to encourage consolidation of the local banking industry to form larger banking conglomerates better able to regionalise and compete with foreign banks, the government liberalised the banking sector by awarding greater liberty for foreign banks to operate in Singapore in 2001. Since then, the number of local full banks has shrunk by more than half to four today.

#### Full banks

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.
| Local Full Bank | Local Full Bank | EFA | Incorporated in | Local address | ACU | SGS |
| English | Other languages | EFA | Incorporated in | Local address | ACU | SGS |
| Bank of Singapore (part of OCBC Bank) | 新加坡银行 | Yes | Singapore | 63 Market Street | Yes | No |
| DBS Bank Limited | 星展银行有限公司 | Yes | Singapore | 12 Marina Boulevard | Yes | Pri |
| POSB (part of DBS Bank) | 新加坡邮政储蓄银行 | Yes | Singapore | 12 Marina Boulevard | Yes | Pri |
| OCBC Bank | 华侨银行有限公司 | Yes | Singapore | 65 Chulia Street | Yes | Pri |
| United Overseas Bank Limited (UOB) | 大华银行有限公司 | Yes | Singapore | 80 Raffles Place | Yes | Pri |

#### Digital full banks

There are currently three local digital banks with full bank licence in Singapore. Trust Bank was jointly launched by FairPrice Group and Standard Chartered Bank on 1 September 2022. GXS Bank is owned by Grab and Singtel. MariBank is owned by Sea Ltd.
| Local Digital Full Bank | Local Digital Full Bank | Ownership | Incorporated in | Local address |
| English | Other languages | Ownership | Incorporated in | Local address |
| Trust Bank | 优信银行 | FairPrice Group, Standard Chartered Bank | Singapore | 77 Robinson Rd, #25-00, Robinson 77, 068896 |
| GXS Bank | GXS数码银行 | Grab, Singtel | Singapore | 3 Media Close, #09-03, 138498 |
| MariBank | 马里银行 | Sea Ltd | Singapore | 1 Fusionopolis Walk, #15-01, South Tower Solaris, 138628 |

#### Defunct banks

| English name | Other language name | Incorporated in | Closed | Fate |
| Bank of Singapore | 新加坡银行 | Singapore | - | Merged into Oversea-Chinese Banking Corporation and renamed Singapore Island Bank. Not to be confused with the current Bank of Singapore which is renamed from ING Asia Private Bank. |
| Chung Khiaw Bank Limited | 崇僑銀行有限公司 | Singapore | 1999 | Merged into United Overseas Bank |
| Far Eastern Bank Limited | 远东银行有限公司 | Singapore | 2017 | Merged into United Overseas Bank |
| Industrial and Commercial Bank Singapore Limited | 工商银行有限公司 | Singapore | 2002 | Merged into United Overseas Bank |
| International Bank of Singapore | 新加坡国际银行有限公司 | Singapore | 1984 | Merged into Overseas Union Bank |
| Keppel Bank Limited | 吉宝银行有限公司 | Singapore | 1998 | Merged with Keppel TatLee Bank |
| Keppel TatLee Bank Limited | 吉宝达利银行有限公司 | Singapore | 2001 | Merged into Oversea-Chinese Banking Corporation |
| Kwong Yik Bank | 新嘉坡廣益銀行 | Singapore | 1913 | Voluntary liquidation after a bank run |
| Overseas Union Bank Limited | 华联银行有限公司 | Singapore | 2002 | Merged into United Overseas Bank |
| Tat Lee Bank Limited | 达利银行有限公司 | Singapore | 1998 | Merged with Keppel TatLee Bank |
| The Islamic Bank of Asia | 亚洲伊斯兰银行 | Singapore | 2015 | Merged into DBS Bank |

### Foreign banks

There are presently 119 foreign commercial banks in Singapore, of which 28 are Full banks, 54 are Wholesale banks, and 37 are Offshore banks.

#### Full banks

Although foreign banks with full bank licences can also offer most commercial banking services to clients compared to local banks, they are restricted in terms of number of branches and automated teller machines.
| Foreign full Bank | Foreign full Bank | EFA | Incorporated in | Local address | ACU | SGS |
| English | Local language | EFA | Incorporated in | Local address | ACU | SGS |
| Standard Chartered Singapore | 渣打新加坡有限公司 | Yes | Singapore | 8 Marina Boulevard | Yes | No |
| Bangkok Bank Public Company Limited | ธนาคารกรุงเทพ | No | Thailand | 180 Cecil Street | Yes | No |
| Bank of America, National Association | 美国银行 | Yes | United States | 50 Collyer Quay | Yes | Pri |
| Bank of China Limited | 中国银行股份有限公司 | Yes | People's Republic of China | 4 Battery Road | Yes | Sec |
| Bank of East Asia Limited, The | 東亞銀行有限公司 | Yes | Hong Kong SAR | 137 Market Street | Yes | No |
| Bank of India | 印度银行 | Yes | India | 138 Robinson Road | Yes | No |
| Bank of Tokyo-Mitsubishi UFJ Limited, The | 三菱東京UFJ銀行 | Yes | Japan | 9 Raffles Place | Yes | Sec |
| Calyon | 东方汇理银行 | Yes | France | 168 Robinson Road | Yes | Sec |
| CIMB Bank | 联昌国际银行 | No | Malaysia | 39 Robinson Road | No | No |
| Citibank Singapore | 新加坡花旗银行 | Yes | United States | 3 Temasek Avenue | Yes | Pri |
| Hongkong and Shanghai Banking Corporation Limited | 香港上海滙豐銀行有限公司 | Yes | Hong Kong SAR | 21 Collyer Quay | Yes | No |
| Maybank Singapore Limited | 马来亚银行 | Yes | Malaysia | 2 Battery Road | Yes | |
| Hong Leong Bank Berhad | 丰隆银行 | Yes | Malaysia | 1 Wallich Street | | |
| Indian Bank | இந்தியன் வங்கி | No | India | 3 Raffles Place | No | No |
| Indian Overseas Bank | இந்தியன் ஓவர்‌ஸீஸ் வங்கி | No | India | 64 Cecil Street | No | No |
| JPMorgan Chase Bank, National Association | 摩根大通银行 | Yes | United States | 168 Robinson Road | Yes | Sec |
| Ping An Bank | 平安银行 | Yes | China | 80 Pasir Panjang Road | Yes | Pri |
| PT Bank Mandiri (Persero) Tbk. | 曼迪里银行 | No | Indonesia | Asia Square Tower 2 | Yes | No |
| PT Bank Negara Indonesia (Persero) Tbk. | 印度尼西亚国家银行 | No | Indonesia | 39 Robinson Road | Yes | No |
| RHB Bank Berhad | 兴业银行 | Yes | Malaysia | 90 Cecil Street | Yes | Sec |
| Sumitomo Mitsui Banking Corporation | 三井住友銀行 | Yes | Japan | 3 Temasek Avenue | Yes | No |
| UCO Bank | 优科银行 | No | India | 3 Raffles Place | No | No |

#### Qualifying full banks

Liberalisation of the banking sector saw the government creating a new category under the foreign banks category, called the Qualifying Full Bank (QFB). The first four licences were awarded on 20 October 1999 to ABN AMRO, Banque Nationale De Paris (now BNP Paribas), Citibank (transferred to newly locally incorporated Citibank Singapore on 28 June 2004) and Standard Chartered Bank. Two new licences were issued in December 2001 as part of the second phase of bank liberalisation, namely to the Hongkong and Shanghai Banking Corporation and Maybank Singapore. These QFBs are permitted to operate up to 15 service locations.
In June 2004, the QFB licence was further liberalised. QFBs are permitted to establish up to 25 service locations of which up to 10 can be branches from 1 January 2005. These banks were permitted to share their ATM networks (this was achieved with five of the QFBs through atm$^5$), and provide services via the EFTPOS network from 1 July 2002. On the same day, they are also permitted to provide the Central Provident Fund's Supplementary Retirement Scheme and Investment Scheme accounts and to accept CPF fixed deposits. In 2012, MAS announced new changes to the QFB scheme, requiring QFBs who are "important to the domestic market to locally incorporate their retail operations". Further, such QFBs, whose home countries have Free Trade Agreements with Singapore, will be able to operate up to 50 places of business.
| Qualifying Full Bank | Qualifying Full Bank | EFA | Incorporated in | Local address | ACU | SGS |
| English | Local language | EFA | Incorporated in | Local address | ACU | SGS |
| Australia and New Zealand Banking Group Limited | | Yes | Australia | 1 Raffles Place | Yes | Pri |
| BNP Paribas | | Yes | France | 20 Collyer Quay | Yes | No |
| Citibank International Personal Bank Singapore (Citibank Singapore Limited) | 新加坡花旗銀行國際個人銀行 | Yes | Singapore | 23 Church Street | Yes | Yes |
| Citibank Singapore Limited | 美国花旗银行新加坡分行 | Yes | Singapore | 3 Temasek Avenue | Yes | No |
| HSBC | 香港上海滙豐銀行有限公司 | Yes | Hong Kong SAR | 21 Collyer Quay | Yes | Pri |
| Maybank Singapore Limited | 马来亚银行 | Yes | Malaysia | 2 Battery Road | Yes | Sec |
| Standard Chartered Bank | 渣打银行 | Yes | United Kingdom | 6 Battery Road | Yes | Pri |
| State Bank of India | ஸ்டேட் பேங்க் ஆப் இந்தியா | Yes | India | 135 Cecil Street | Yes | No |
| ICICI Bank Limited | | Yes | India | 9 Raffles Place | Yes | No |
| Bank of China | 中国银行 | Yes | China | 4 Battery Road | Yes | Sec |
| Industrial and Commercial Bank of China | 中国工商银行 | Yes | China | 6 Raffles Quay | Yes | Sec |

#### Wholesale banks

Wholesale bank licences were first issued in December 2001 to replace the "Restricted Bank (RB)" licence as a reflexion of greater services which may be conducted by these banks. These banks may conduct the same range of services as full banks, except that they do not deal with banking activities in the Singapore Dollar, and can only have one main branch.
| Wholesale Bank | Wholesale Bank | EFA | Incorporated in | Local address | SGS |
| English | Local language | EFA | Incorporated in | Local address | SGS |
| Australia and New Zealand Banking Group Limited | | Yes | Australia | 1 Raffles Place | Sec |
| Scotiabank | | No | Canada | 10 Collyer Quay | No |
| Barclays Bank PLC | | Yes | United Kingdom | 1 Raffles Quay | Pri |
| Bayerische Hypo- und Vereinsbank Aktiengesellschaft | | Yes | Germany | 30 Cecil Street | No |
| BNP Paribas Private Bank | | Yes | France | 20 Collyer Quay | No |
| Mega International Commercial Bank | 兆豐銀行 | No | Taiwan | 80 Raffles Place | No |
| Commerzbank Aktiengesellschaft | | Yes | Germany | 8 Shenton Way | Sec |
| Credit Suisse | | Yes | Switzerland | 1 Raffles Link | Pri |
| Deutsche Bank Aktiengesellschaft | | Yes | Germany | 6 Shenton Way | Pri |
| Dresdner Bank Aktiengesellschaft merged with Commerzbank in 2009 |
| EFG Bank | | Yes | Switzerland | 25 North Bridge Road | Pri |
| First Commercial Bank Limited | 第一商業銀行股份有限公司 | No | Taiwan | 77 Robinson Road | No |
| Fortis Bank S.A./N.V. | | Yes | Belgium & the Netherlands | 63 Market Street | Sec |
| Habib Bank Limited | | No | Pakistan | 3 Phillip Street | No |
| HSBC Private Bank (Suisse) SA | | Yes | Switzerland | 21 Collyer Quay | Sec |
| Industrial and Commercial Bank of China | 中国工商银行 | No | People's Republic of China | 6 Raffles Quay | No |
| ING Bank N.V. | | Yes | the Netherlands | 9 Raffles Place | Sec |
| KBC Bank N.V. | | Yes | Belgium | 30 Cecil Street | No |
| Korea Exchange Bank | 외환은행 | No | South Korea | 30 Cecil Street | No |
| Landesbank Baden-Wuerttemberg | | Yes | Germany | 25 International Business Park | No |
| Mizuho Bank Limited | みずほ銀行 | Yes | Japan | 168 Robinson Road | No |
| Moscow Narodny Bank Limited | | No | United Kingdom | 50 Robinson Road | No |
| National Australia Bank Limited | | Yes | Australia | 5 Temasek Boulevard | No |
| National Bank of Kuwait SAK | الوطني | No | Kuwait | 9 Raffles Place | No |
| Norddeutsche Landesbank | | No | Germany | 6 Shenton Way | No |
| Northern Trust Company, The | | Yes | United States | 1 George Street | No |
| Rabobank | | Yes | the Netherlands | 77 Robinson Road | No |
| Royal Bank of Scotland PLC, The | | Yes | United Kingdom | 50 Raffles Place | No |
| Sanpaolo IMI S.P.A. | | No | Italy | 6 Temasek Boulevard | Sec |
| Société Générale | | Yes | France | 80 Robinson Road | Sec |
| State Street Bank and Trust Company | | No | United States | 168 Robinson Road | No |
| UBS AG | 瑞士銀行 | Yes | Switzerland | 5 Temasek Boulevard | Sec |
| UFJ Bank Limited | 株式会社UFJ銀行 | Yes | Japan | 6 Raffles Quay | No |
| WestLB Aktiengesellschaft | | No | Germany | 3 Temasek Avenue | Sec |

#### Offshore banks

| Offshore Bank | Offshore Bank | EFA | Incorporated in | Local address | ACU | SGS |
| English | Local language | EFA | Incorporated in | Local address | ACU | SGS |
| Absa Group | | No | South Africa | 9 Temasek Boulevard | Yes | No |
| Agricultural Bank of China | 中国农业银行 | No | People's Republic of China | 80 Raffles Place | Yes | No |
| Arab Bank | البنك العربي | No | Jordan | 80 Raffles Place | Yes | No |
| Banca di Roma | | No | Italy | 9 Raffles Place | Yes | No |
| Banca Monte dei Paschi di Siena | | No | Italy | 10 Collyer Quay | No | No |
| Bank of Communications | 交通银行 | No | People's Republic of China | 128 Beach Road | Yes | No |
| Bank of Taiwan | 臺灣銀行 | No | Taiwan | 80 Raffles Place | Yes | No |
| BNY Mellon | | No | United States | 1 Temasek Avenue | Yes | No |
| Canadian Imperial Bank of Commerce | | Yes | Canada | 16 Collyer Quay | Yes | No |
| Chang Hwa Commercial Bank | 彰化銀行 | No | Taiwan | 1 Finlayson Green | Yes | No |
| China Construction Bank | 中国建设银行 | No | People's Republic of China | 9 Raffles Place | Yes | No |
| CIMB Bank | Kumpulan CIMB / CIMB குழுமம் / كومڤولن چيمب | No | Malaysia | 7 Temasek Boulevard | Yes | No |
| Clariden Leu | | No | Switzerland | 80 Raffles Place | Yes | No |
| Commonwealth Bank | | Yes | Australia | 3 Temasek Avenue | Yes | No |
| Crédit Agricole | | Yes | France | 168 Robinson Road | Yes | No |
| Crédit Industriel et Commercial | | Yes | France | 12 Marina Boulevard | Yes | No |
| Banque Internationale à Luxembourg SA | | Yes | Luxembourg | 9 Raffles Place | Yes | No |
| DNB Bank ASA | | No | Norway | 8 Shenton Way | Yes | No |
| DZ Bank Singapore Branch | | No | Germany | 50 Raffles Place | Yes | No |
| Hana Bank | 하나은행 | No | South Korea | 8 Cross Street | Yes | No |
| Hang Seng Bank Limited | 恒生銀行有限公司 | No | Hong Kong SAR | 21 Collyer Quay | Yes | No |
| HSH Nordbank | | No | Germany | 3 Temasek Avenue | Yes | No |
| Hua Nan Commercial Bank | 華南銀行 | No | Taiwan | 80 Robinson Road | Yes | No |
| International Commercial Bank of China | 中國國際商業銀行 | No | Taiwan | 6 Battery Road | Yes | No |
| Korea Development Bank | 한국산업은행 | No | South Korea | 8 Shenton Way | Yes | No |
| Krung Thai Bank | บมจ. ธนาคารกรุงไทย | No | Thailand | 65 Chulia Street | Yes | No |
| Land Bank of Taiwan | 土地銀行 | No | Taiwan | 80 Raffles Place | Yes | No |
| Lloyds Bank | | Yes | United Kingdom | 1 Temasek Avenue | Yes | No |
| Mitsubishi UFJ Trust and Banking Corporation | 三菱信託銀行 | Yes | Japan | 50 Raffles Place | Yes | No |
| Natixis | | No | France | 50 Raffles Place | Yes | No |
| Nordea Bank Finland | | Yes | Finland | 3 Anson Road | Yes | No |
| Norinchukin Bank | 農林中央金庫 | No | Japan | 80 Raffles Place | Yes | No |
| Philippine National Bank | Bangko Nasyonal ng Pilipinas or Pambansang Bangko ng Pilipinas | No | Philippines | 304 Orchard Road | Yes | No |
| Bank Mandiri | | No | Indonesia | 3 Anson Road | Yes | No |
| Raiffeisen Zentralbank | | No | Austria | One Raffles Quay | Yes | No |
| Royal Bank of Canada | | Yes | Canada | 20 Raffles Place | Yes | Sec |
| Shinhan Bank | 신한은행 | No | South Korea | 50 Raffles Place | Yes | No |
| Siam Commercial Bank | บมจ. ธนาคารไทยพาณิชย์ | No | Thailand | 16 Collyer Quay | Yes | No |
| Skandinaviska Enskilda Banken | | Yes | Sweden | 50 Raffles Place | Yes | No |
| State Bank of India | | No | India | 135 Cecil Street | Yes | No} |
| Sumitomo Mitsui Trust Holdings | 住友信託銀行 | Yes | Japan | 8 Shenton Way | Yes | No |
| Svenska Handelsbanken | | No | Sweden | 65 Chulia Street | Yes | No |
| Toronto Dominion Bank | | Yes | Canada | 1 Temasek Avenue | Yes | No |
| Union de Banques Arabes et Francaises | | No | France | 6 Temasek Boulevard | Yes | No |
| Westpac | | Yes | Australia | 77 Robinson Road | Yes | No |
| Woori Bank | 우리은행 | No | South Korea | 5 Shenton Way | Yes | No |

## Merchant banks

The typical activities of merchant banks include corporate finance, underwriting of share and bond issues, mergers and acquisitions, portfolio investment management, management consultancy, personal banking and other fee-based activities. Merchant banks may not accept sight or savings deposits or borrow from the public. However, they may accept deposits or borrow from banks, finance companies, shareholders and companies controlled by their shareholders.

## Representative offices of banks

* Citibank International Personal Bank Singapore