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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.
United Overseas Bank Limited (simplified Chinese: 大华银行有限公司; traditional Chinese: 大華銀行有限公司; pinyin: Dàhuá Yínháng Yǒuxìan Gōngsī; Pe̍h-ōe-jī: Tāi-hôa Gûn-hâng Iú-hān Kong-si), often known as UOB, is a Singaporean regional bank headquartered at Raffles Place, Singapore, with branches mostly found in Southeast Asia countries.
The bank received its Qualifying Full Bank (QFB) licence in October, 1999, being one of the first foreign bank to qualify for the licence. [4] The bank (Standard Charted (Singapore) Limited) was officially incorporated in 2013 to handle Standard Chartered's Singapore Consumer Banking retail and SME banking business. [5]
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.
The Chinese Commercial Bank was established 1912 by Lim Peng Siang and several merchants, including Lee Choon Guan and Lim Boon Keng. [2]On 17 August 1912, a largely attended meeting of Hokkiens, shareholders of the then proposed Chinese Commercial Bank Ltd., was held at the Chinese Chamber of Commerce in Hill Street, presided over by Lee Choon Guan.
HONG KONG/SINGAPORE (Reuters) - Grab, Southeast Asia's most valuable start-up, is exploring a move into Singapore banking as regulators in the Southeast Asian city-state consider allowing online ...
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A commercial bank is what is commonly referred to as simply a bank. The term "commercial" is used to distinguish it from an investment bank, a type of financial services entity which instead of lending money directly to a business, helps businesses raise money from other firms in the form of bonds (debt) or share capital (equity). The primary ...