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Banking & Finance


The financial services industry is a significant component of Singapore's economy. It accounted for 11.5% of nominal GDP in 2003. Among the services industry it has the highest value-added. Banks that have their regional bases in Singapore include Citibank, ABN Amro and Union Bank of Switzerland (UBS). Premier local financial institutions include the Development Bank of Singapore (DBS) and the United Overseas Bank (UOB). The presence of these leading institutions has galvanized the financial industry. There are currently more than 1,000 local and foreign financial institutions in Singapore. Most of Singapore's 140 commercial banks and 80 merchant banks offer full banking services.
Singapore has accomplished a highly commercialized and competent banking and financial industry and has attracted all the major foreign banks and financial institutions of the world to its shores. Almost all the major foreign banks are represented in Singapore, including the ABN AMRO Bank, Bank of America, Wells Fargo International Banking Group, Bank of Nova Scotia, Bank of Tokyo-Mitsubishi, Banque Indosuez, Banque Nationale de Paris, Barclays Bank, Chase Manhattan, Citibank, Credit Suisse First Boston, Deutsche Bank, Hongkong and Shanghai Banking Corporation (HSBC), Moscow Narodny Bank, National Australia Bank Ltd, Standard Chartered Bank, Sumitomo, and the Union Bank of Switzerland.



There are currently more than 1,000 local and foreign financial institutions in Singapore.

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   Companies
      American International Assurance Co Ltd
      Citibank
      Credit Suisse
      Goldman Sachs
      JP Morgan & Investment
      Merrill Lynch
      Monetary Authority of Singapore
      The Development Bank of Singapore
      The Hong Kong Shanghai Banking Co Ltd
      United Overseas Bank
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