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POSB Newton Branch POSB deposit and cash withdrawal machines located at Bugis MRT station. On 24 July 1998, the Ministry of Finance announced the acquisition of POSBank by DBS Bank, [11] [12] which was fully acquired on 16 November 1998 for S$1.6 billion, [3] at the same time, ceased to exist as a statutory board under the Ministry of Finance.
As of 31 December 2015, POSB had total assets valued at US$133.7 million, with $63.81 million in customer deposits and made an after-tax profit of US$7.9 million in the calendar year 2015. [ 2 ] As at that time, the bank had over 500,000 savings accounts, maintained 34 brick and mortar branches, [ 3 ] operated 220 agency branches through ...
People's Own Savings Bank (POSB), state-owned; African Century Ltd, part of the African Century Group (Mauritius) EmpowerBank Ltd, state-owned; GetBucks Microfinance Bank Ltd; InnBucks Microbank Ltd; Lion Microfinance Ltd; Success Microfinance Bank; Zimbabwe Women Microfinance Bank, state-owned; Infrastructure Development Bank of Zimbabwe (IDBZ ...
By 1976, POSB had one million depositors, while deposits crossed the S$1 billion mark. The bank was then renamed POSBank in 1990, before being acquired by DBS Bank on 16 November 1998 for S$1.6 billion (first announced on 24 July 1998), [17] [18] giving it a dominant market share with over four million customers. [19]
POSB may refer to any of the following: POSB Bank - a financial services provider in Singapore; formerly Post Office Savings Bank People's Own Savings Bank - a savings bank in Zimbabwe; formerly Post Office Savings Bank
A bank branch can be identified from the bank code. Denmark has 4-digit bank code (called Registreringsnummer, or Reg. nr.). France has a 10 digit code, the first 5 digits contain the clearing identifier of the banking company (Code Banque), followed by the 5-digit branch code (Code Guichet). Both numbers are only used as a combined prefix for ...
The BSB is a six-digit code, usually presented as nnn-nnn. Originally, the format of the BSB code was for the first two digits to indicate the "bank" and the other four digits specified the "branch" of that financial institution, the first digit of which was the state code indicating the state where the branch was located.
A POSB branch at Waterway Point, in Punggol. In 1998, President Ong found out, through the newspapers, that the Government intended to privatise Post Office Savings Bank and accept an offer by DBS Bank to acquire POSB and its subsidiaries. [25] POSB was a Key Statutory Board whose Past Reserves came within the President's protection.