In this article, we’re exploring how many foreign banks are in Singapore. We’re going to share a list of the financial banking groups and Singapore banks that fall into the category of foreign banks and answer three common questions we’ve received from people exploring this specific topic.
This article is part of our free series on the list of banks in Singapore. You can access this series right now by using the link above.
In addition to detailed account opening guides, this free series on Singapore banking also discusses the largest banks in Singapore, Singapore’s opening requirements, the costs of banking in Singapore, and much more. Use the link above to start exploring all of your free Singapore banking content right now.
Alternatively, use the table of contents to continue exploring more information on how many foreign banks are in Singapore.
Table of Contents
- How Many Foreign Banks Are There in Singapore?
- Frequently Asked Singapore Banking Questions
- Do You Want to Open a Singapore Bank Account?
How Many Foreign Banks Are There in Singapore?
There are over 100 foreign banks in Singapore. Each foreign bank has its preferred clientele, account opening requirements, and offering of financial services.
These non-domestic financial institutions, including the top 10 banks in Singapore, play a critical role in the country’s economy, providing access to a financially stable and well-managed banking system that offers a wide range of sophisticated financial services to a diverse range of client types.
Here is a list of seven foreign financial institutions that operate in Singapore.
List of Foreign Banks Operating in Singapore
- Bank of America
- BNP Paribas
- Citibank
- Deutsche Bank
- HSBC
- JP Morgan Chase Bank
- Standard Chartered Bank
Please note this list only includes seven of the 100-plus foreign financial institutions currently licensed to operate in Singapore. Additionally, the banks listed are presented in alphabetical order and the order does not reflect any rating or suggestion of suitability for account opening.
It’s important to carefully assess these banking companies and the local banks that are in Singapore available to you, their preferences, banking risks, and requirements before choosing where to apply for an account in Singapore.
Want to learn more about banking in Singapore? Visit our comprehensive guide on banking in Singapore, available in the link above.
Alternatively, if you want to explore all of your offshore banking options, download our free guide and compare Singapore to some of the top banking jurisdictions available.
Do You Want to Explore All Your Offshore Banking Options?
Frequently Asked Singapore Banking Questions
Below are a few of the most common questions we receive from people exploring how many foreign banks are in Singapore. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.
How Many Banks Are There in Singapore?
There are 150 plus banks in Singapore, spanning several license categories including full banks, wholesale banks, local banks, merchant banks, offshore banks, and foreign banks. Financial institutions in Singapore cater to a wide range of clientele.
What Are the Top 3 Banks in Singapore?
The top 3 banks in Singapore are DBS, Overseas Chinese Banking Corporation (OCBC), and United Overseas Bank (UOB). According to the Central Bank of Singapore, the Monetary Authority of Singapore (MAS), the total assets of Singapore’s banking sector are approximately $2 trillion.
What Are International Banks in Singapore?
The international banks in Singapore include Citibank, HSBC, and Bank of America. These banks offer a wide range of banking services and products. The banks available to you depend on your citizenship, residency, banking needs, and deposit level.
Do You Want to Open a Singapore Bank Account?
If so, you can access GlobalBanks IQ and start the process of applying in Singapore in a few clicks.
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+ Expert insights on which banks to choose & why
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+ Plus, get YOUR most pressing bank account opening questions answered by our team!
And “yes!” GlobalBanks IQ helps foreigners and non-resident individuals open bank accounts.
In fact, GlobalBanks IQ even helps non-resident, foreign & offshore entities open bank accounts.
To learn more about opening accounts with GlobalBanks IQ, use the link in the top menu. Or, contact us directly with any questions!
