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POSB Bank, often known as POSB, is a Singaporean bank offering consumer banking services. It is the largest and oldest local bank in continuous operation in Singapore with over four million customers. [1]
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
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.
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
NETS operates Singapore's national debit scheme enabling customers of DBS Bank, POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank, CIMB and UOB to make payments using their physical/contactless ATM cards or mobile devices at more than 120,000 acceptance points in Singapore including major retailers, food courts, hawker centres, convenience stores and supermarkets.
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.
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 ]
Post Office Savings Bank (POSB), acquired by DBS Bank on 16 November 1998. Singapore Broadcasting Authority (SBA), formed on 1 October 1994, merged into Media Development Authority on 1 January 2003. Singapore Broadcasting Corporation (SBC) corporatised as the Television Corporation of Singapore on 1 October 1994