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By 1976, POSB had one million depositors, while deposits crossed the S$1 billion mark. In 1980, it introduced the Passcard, and set-up the Principal Branch. In 1981, its first Cash-On-Line ATM opened at the Newton Branch. In 1983, its headquarters were shifted to the new 8-storey complex, the POSB Bank Centre at Bras Basah Road.
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 ...
Commercial banks in Singapore may undertake universal banking, such as the taking of deposits and the provision of cheque services and lending, as well any other business authorised by the Monetary Authority of Singapore, including financial advisory services, insurance brokering and capital market services, as long as they are permitted under section 30 of the Banking Act.
POSB - Post Office Savings Bank (now known as POSBank) PP - Public Prosecutor (see also "APP" and "DPP") or Parkway Parade; PROGRESS - Providing Opportunities through Growth, Remaking Singapore for Success; PS - Plaza Singapura; PSA - Port of Singapore Authority (now known as PSA International) PSC - Public Service Commission
Post Office Savings Bank is a name used by postal savings systems in several countries, including: New Zealand, later renamed the PostBank; United Kingdom, later renamed the National Savings and Investments; Singapore, later renamed POSB Bank; Kenya, also known as the Kenya Post Office Savings Bank; Austra, also known as the Österreichische ...
The Bank for International Settlements signed an agreement with Central Bank of Malaysia, Bank of Thailand, Bangko Sentral ng Pilipinas, Monetary Authority of Singapore, and the Reserve Bank of India on 30 June 2024 as founding member of Project Nexus, a multilateral international initiative to enable retail cross-border payments.
Bank Rakyat, Muamalat, OCBC Bank do not co-brand their cards except for ATM use only. Maybank has the largest capitalisation in Malaysia in June 2018. Central Bank of Malaysia expects all debit cards issued in Malaysia to be co-branded with the local network 'MyDebit' latest by the year 2017.
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]