Banks in Singapore
Summary
Banks in Singapore industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- The banking industry involves the activities of banks and similar institutions that offer financial services such as savings, loans, mortgages, and related services to businesses and consumers.
- The Singaporean banks industry group recorded assets of $1,307.6 billion in 2023, representing a compound annual growth rate (CAGR) of 6.2% between 2018 and 2023.
- The bank credit segment accounted for the industry group's largest proportion in 2023, with total assets of $519.7 billion, equivalent to 39.7% of the industry group's overall value.
- The Singaporean government has implemented policies to increase lending to small and medium-sized enterprises (SMEs), which is driving up bank credit revenue. For instance, the maximum loan amount for the SME Working Capital Loan under the Enterprise Financing Scheme was raised to SGD$500,000 ($372,267.8) in Budget 2024, effective April 1, 2024.
- Save time carrying out entry-level research by identifying the size, growth, and leading players in the banks market in Singapore
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the banks market in Singapore
- Leading company profiles reveal details of key banks market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Singapore banks market with five year forecasts by both value and volume
- What was the size of the Singapore banks market by value in 2023?
- What will be the size of the Singapore banks market in 2028?
- What factors are affecting the strength of competition in the Singapore banks market?
- How has the market performed over the last five years?
- How large is Singapore’s banks market in relation to its regional counterparts?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market share
- 1.6. Market rivalry
- 1.7. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 4 Market Segmentation
- 4.1. Category segmentation
- 4.2. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Market share
- 7.2. Who are the leading players?
- 7.3. What are the strategies of the leading players?
- 7.4. What have been the recent M&A activities?
- 8 Company Profiles
- 8.1. DBS Group Holdings Ltd
- 8.2. Oversea-Chinese Banking Corp Ltd
- 8.3. Standard Chartered Bank (Singapore) Ltd
- 8.4. United Overseas Bank Ltd
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related MarketLine research
- 10.4. About MarketLine
- List of Tables
- Table 1: Singapore banks industry value: $ billion, 2018-23
- Table 2: Singapore banks industry category segmentation: % share, by value, 2018-2023
- Table 3: Singapore banks industry category segmentation: $ billion, 2018-2023
- Table 4: Singapore banks industry geography segmentation: $ billion, 2023
- Table 5: Singapore banks industry value forecast: $ billion, 2023-28
- Table 6: Singapore banks industry share: % share, by value, 2023
- Table 7: DBS Group Holdings Ltd: key facts
- Table 8: DBS Group Holdings Ltd: Annual Financial Ratios
- Table 9: DBS Group Holdings Ltd: Key Employees
- Table 10: DBS Group Holdings Ltd: Key Employees Continued
- Table 11: Oversea-Chinese Banking Corp Ltd: key facts
- Table 12: Oversea-Chinese Banking Corp Ltd: Annual Financial Ratios
- Table 13: Oversea-Chinese Banking Corp Ltd: Key Employees
- Table 14: Oversea-Chinese Banking Corp Ltd: Key Employees Continued
- Table 15: Standard Chartered Bank (Singapore) Ltd: key facts
- Table 16: Standard Chartered Bank (Singapore) Ltd: Key Employees
- Table 17: United Overseas Bank Ltd: key facts
- Table 18: United Overseas Bank Ltd: Annual Financial Ratios
- Table 19: United Overseas Bank Ltd: Key Employees
- Table 20: United Overseas Bank Ltd: Key Employees Continued
- Table 21: Singapore size of population (million), 2019-23
- Table 22: Singapore gdp (constant 2005 prices, $ billion), 2019-23
- Table 23: Singapore gdp (current prices, $ billion), 2019-23
- Table 24: Singapore inflation, 2019-23
- Table 25: Singapore consumer price index (absolute), 2019-23
- Table 26: Singapore exchange rate, 2019-23
- List of Figures
- Figure 1: Singapore banks industry value: $ billion, 2018-23
- Figure 2: Singapore banks industry category segmentation: $ billion, 2018-2023
- Figure 3: Singapore banks industry geography segmentation: % share, by value, 2023
- Figure 4: Singapore banks industry value forecast: $ billion, 2023-28
- Figure 5: Forces driving competition in the banks industry in Singapore, 2023
- Figure 6: Drivers of buyer power in the banks industry in Singapore, 2023
- Figure 7: Drivers of supplier power in the banks industry in Singapore, 2023
- Figure 8: Factors influencing the likelihood of new entrants in the banks industry in Singapore, 2023
- Figure 9: Factors influencing the threat of substitutes in the banks industry in Singapore, 2023
- Figure 10: Drivers of degree of rivalry in the banks industry in Singapore, 2023
- Figure 11: Singapore banks industry share: % share, by value, 2023
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