Transcript Banking Liberalisation

Developments in Singapore’s
Banking Sector
Outline
• Banking liberalisation
• Banking consolidation
Banking Liberalisation
• Types of foreign banks:
– Offshore bank (OB)
• Restrictions
– Wholesale bank (WB)
• Singapore $ deposits
– Qualified foreign bank (QFB)
• Full bank
• 15 locations (10 branches)
Banking Liberalisation
• May 99: five-year program to liberalise
domestic banking sector
• Oct 99: four QFB, eight WB licences
• Dec 01: two QFB, 16 WB licences, eight
converted from OBs
• May 03: eight WB licences
Banking Liberalisation
• 28 full banks
– 6 qualified full banks:
• Maybank, Citibank, HSBC, Standard Chartered, BNP
Paribas, ABN Amro
• 37 wholesale banks
• 48 overseas banks
Banking Consolidation
• Number of local banks reduced to three in
2001:
– UOB-OUB merger
– OCBC-Keppel merger
End of Presentation