In this article, we’re exploring the top banks in Singapore by assets. We list out the top five leading global financial institutions and largest banks in Singapore, determine whether or not non-residents are eligible for accounts with these banks, and answer three common questions we receive from people exploring this specific topic.
This article is part of our free series on the largest 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 the top banks in Singapore by assets.
Table of Contents
- What Are the Top Banks in Singapore by Assets?
- Frequently Asked Singapore Banking Questions
- Do You Want to Open a Singapore Bank Account?
What Are the Top Banks in Singapore by Assets?
The top banks in Singapore by assets include DBS Bank, OCBC Bank, and UOB Bank with USD 509.1 billion, USD 402.2 billion, and USD 340.7 billion.
The top banks in Singapore are not created equal. Each bank has its preferred client type, unique account opening requirements, and required deposit level.
Choosing between the top banks in Singapore involves careful consideration and preparation. It’s important to choose a financial institution that accepts similar client profiles, matches your banking needs, and has requirements you can meet.
Here’s a look at the top five banks in Singapore.
Top Banks in Singapore
- DBS
- Overseas Chinese Banking Corporation (OCBC)
- United Overseas Bank (UOB)
- Bank of Singapore
- Citibank Singapore
Can a Non-Resident Open a Bank Account With One of the Largest Banks in Singapore?
Yes, a non-resident can open a bank account with one of the largest banks in Singapore as long as they have a suitable profile, meet the opening requirements, and make a qualifying deposit.
Importantly, if you are looking to open bank accounts in Singapore as a foreign non-resident, there are other banks (not listed above) that are typically better suited to your needs. This is because opening accounts with the local banking giants and major banks in Singapore is a challenging process as many of these financial institutions cater to residents of 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 the top banks in Singapore by assets. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.
Which Is the Largest Bank in Singapore by Assets?
The largest bank in Singapore by assets is DBS. DBS is ranked number one in Singapore with USD 509.1 billion and DBS is also ranked 69th largest bank in the world.
Can Foreigners Open a Bank Account in Singapore?
Yes, foreigners can open a bank account in Singapore as long as they choose the right financial institution, meet the bank’s opening requirements, and have a suitable client profile. The banks available to you depend on your citizenship, residency, banking needs, and deposit level.
What Are the Three Major Banks in Singapore?
The three major 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.
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!
