In the heart of Merlion’s mighty and bustling financing universe, a league of extraordinary foreign banks in Singapore stands ready to guide and protect the country’s citizens’ financial dreams, from personal loans to wealth management. It’s going to be a thrilling journey for you!
So you better prepare yourself to be captivated by the stories of economic heroism of these top seven formidable financial institutions that blend economic powers perfect for your banking needs.
Standard Charter Bank
Did you know a Scottish economist, businessman, and Liberal politician founded the Standard Charter Bank?
Yes, and his name was James Wilson. It was in 1853 that James Wilson founded the then-Chartered Bank of India, Australia, and China. Since then, the bank has had a remarkable history which spans over a century and a half!
Standard Charter is among the best top foreign banks in Singapore as it’s recognised as a stalwart institution and a true cornerstone of innovation and stability in the country’s banking industry. It provides unparalleled financial solutions to individuals and businesses alike.
Standard Charter Bank is often regarded as the banking realm’s “Superman” because of its commitment to driving prosperity. It has massive ambitions to support global trade and investments and assist companies and customers.
Citibank
Did you know that Citibank was established in 1812?
It was then called the City Bank of New York and was also notable because its first president was a retired colonel and statesman, Colonel Samuel Osgood! However, he didn’t lead the bank long enough because he died only a year later.
Citibank went through many events during its reign in the banking industry, and in 1831, it was one of the documented first bank heists in America. The two thieves got away, taking tens of thousands of dollars and 398 gold doubloons!
Regardless of such unfavourable events, Citibank continued to push forth until it reached the shores of Singapore in 1902. Many customers say Citibank Singapore’s like “Robin Hood” as it consistently brought financial empowerment to the community with innovative financial products and services.
HSBC Bank
Another one of the top foreign banks in Singapore is the HSBC Bank. It was born from a simple idea: to be a local bank assisting and serving international needs.
It was in 1865 when Thomas Sutherland, a Scottish banker, founded the Hongkong and Shanghai Bank. During these times, Hong Kong was still a British colony.
The Hongkong and Shanghai Banking Corporation became a formal corporation under the Ordinance of the Legislative Council of Hong Kong in 1866. Soon, in 1877, HSBC opened its first office in the Lion City. During this specific period, Singapore was the largest trading hub between Hong Kong and Calcutta.
Regarding its unwavering commitment to its clients, HSBC Bank is much like the legendary “King Arthur” and has been the picture as a champion of reliability and trustworthiness.
Bank of China
When the Qing government established Daqing Hubu Bank in 1905 in Beijing, the history of the Bank of China began. Many changes occurred in China’s banking industry as time passed until the Bank of China was finally founded in 1912. It was under the Republic Government of China’s choice to replace the Qing Dynasty’s Ta-Ching Government Bank.
The Bank of China continued to prosper in its local banking landscape. In truth, it was ready to conquer overseas and came ashore in Singapore in 1936. The Bank of China was then handling remittances to China to overseas Chinese.
Establishing the BOC in Singapore also signified the bank’s commitment and dedication to bridging economic and cultural gaps between China and Singapore. It was as if BOC was “Sun Wukong” and was instrumental in unleashing the massive potential of cross-border cooperation and fostering economic growth.
Maybank (The Malayan Banking Berhad)
Did you know Malaysia’s largest bank, Maybank, was founded by Oei Tjong Ie and Tan Sri Khoo Teck Puat, a Singaporean business tycoon?
It was in 1960 when the bank began its operations in Kuala Lumpur and soon opened its branches overseas. Maybank’s first overseas branch was in Brunei. During this time, the first Singapore at South Bridge Road was opened.
Regarding commitment to customer-centricity and innovation, Maybank was considered among the best foreign banks in Singapore. Thus, Maybank’s banking history and journey is much like the “Pied Piper of Hamelin”, as it enchants customers to its diverse options of personalised financial solutions.
Deutsche Bank
Do you want to trace the Deutsche Bank’s roots?
You’ll be surprised to learn that it dates back to 1870 and has been integral to Singapore’s economic geography for many decades! The founders were Adelbert Delbruck and Ludwig Bamberger. The bank’s primary goal was to become a pioneer in global finance and connect with customers globally.
The Deutsche Bank is akin to “Merlin”. The bank has wielded its wisdom and outstanding expertise to mould individuals’ and institutions’ financial destinies efficiently.
JPMorgan Chase Bank
Did you know what happened in 1964?
Well, it was this time when JPMorgan Chase Bank introduced its presence in Singapore. Since then, no one can deny its representation as the epitome of strength and adaptability in the banking industry.
JPMorgan Chase Bank’s founders are Junius Spencer Morgan and J.P. Morgan. These individuals envisioned a financial institution that would revolutionise how people perceive banking. And yes, they’re more than successful in attaining their company goals.
As “Hercules” conquered insurmountable challenges, so did JPMorgan Chase Bank. It became Singapore’s top foreign bank in Singapore, a true powerhouse, and continues to navigate the complex realms of finance with dexterity.
Conclusion
The Lion City’s financial sector is incredibly dynamic, with the presence of the top seven foreign banks in Singapore. These specific banks have become the pillars of credibility, trust, resilience and innovation, as it offers various banking services to Singaporean citizens and communities. The bank’s legacy of excellence is unmatched.
And for those seeking personal loans, you have an alternative source: Accredit Licensed Moneylender. Expect a seamless application process and personalised loan packages with competitive interest rates. Accredit stands ready to assist.
Whether you choose an established and traditional path of foreign banks or alternative prowess from a licensed moneylender, always choose the one that aligns with your unique circumstances.
Make your choice today because your financial destiny awaits!
