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Developments in Singapore’s Banking Sector

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

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Developments in Singapore’s Banking Sector

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  1. Developments in Singapore’s Banking Sector

  2. Outline Banking liberalisation Banking consolidation

  3. 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)

  4. 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

  5. Banking Liberalisation 28 full banks 6 qualified full banks: Maybank, Citibank, HSBC, Standard Chartered, BNP Paribas, ABN Amro 37 wholesale banks 48 overseas banks

  6. Banking Consolidation Number of local banks reduced to three in 2001: UOB-OUB merger OCBC-Keppel merger

  7. End of Presentation

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