Company Formation Singapore

Invest in Singapore Banking Sector

Updated on Thursday 19th May 2016

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Invest-in-Singapore-Banking-SectorThe Singapore banking sector

During the last few years, Singapore has established itself as a renowned international financial center. Among all the branches of the financial industry, the banking sector has emerged as one of Singapore’s key players for economic growth. Singapore is currently the third largest banking center in Asia hosting over 100 branches of foreign banks and 6 local ones. Among the factors leading to Singapore banking system’s success one can take into account:

  • -          the liberalization of the local banking market which allowed for the establishment of foreign institutions,
  • -          local banks acquiring or merging with larger banking groups,
  • -          the supply of sophisticated and modern banking services,
  • -          the advantageous banking secrecy legislation,
  • -          the banking legislation which provides for a safe environment for conducting financial activities.

If you want to open a company in Singapore you can request the services of our local specialists.

Invest in private banking in Singapore

Singapore is famous for attracting high net worth individuals, hence the development of the private banking sector. At the moment, private banks in the city-state administer some of the world’s largest foreign investors' liquid assets which is why Singapore was also dubbed “Switzerland of Asia”.

The development of the hedge fund industry has attracted foreign entrepreneurs from all over the world, transforming Singapore into one of the most desirable destination for opening a private bank in. This sector is expected to grow over 9% in the next 5 years.

Singapore banking industry to grow

A recent survey released by Moody’s, one of the most prestigious credit rating agencies in the world, shows the banking industry in Singapore is expected to grow in the next 2 years. Moody’s report that Singapore banks will continue to develop due to the high rate of domestic loans that will be contracted. Both the household and corporate loan sectors are expected to grow in 2016.

Moody’s also commended the Government’s proposal for a new legislation which will enable foreign investors to contract loans easier.

For more reasons to invest in the banking sector, do not hesitate to contact our Singapore consultants in company formation.



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