Top Private Banks in Singapore: Eye-Opening Facts You’d Never Guess

The country’s fast-paced and globally acknowledged financial geography has unique top private banks in Singapore that play crucial roles in managing one’s wealth. Such banks are substantial to Singaporeans communities and global clients with their personalised services, especially for high-net-worth customers. 

In this article, prepare to meet Singapore’s top private banking options catering to an affluent clientele. Be in awe of the rich histories, attainments, and exceptional offerings, and uncover the many astounding facts behind the banks! If you’re ready, begin your journey now.

Bank of China (BOC) Private Banking

The Bank of China (BOC) is now among the Chinese banks with the most extended and continuous operations since its establishment in February 1912. BOC isn’t your ordinary bank. It serves as China’s central bank, specialised international trade bank, and international exchange bank.

BOC played an essential part in China’s economic history, serving as China’s central bank for many years. Bank of China is among the four central state-owned banks facilitating trade and investment, transforming the country into a global economic powerhouse.

In 1936, the red dragon set foot into the lion’s jungle. The Lion City opened it’s massively progressing financial jungle for BOC and, thus, the Singapore branch. The BOC Singapore branch grants a wide array of banking services, including: 

  • Trust and Estate Planning
  • Exclusive Privileges for High-Net-Worth Clients
  • Wealth Planning and Management

Fun fact:

Did you know that the BOC Tower in Hong Kong has a genuinely remarkable triangular shape exterior design feature?

Thus it became an iconic landmark like no other tower in Hong Kong.

Bank of Singapore

Are you a high-net-worth client needing the best private banking services in the country?

You need not look any further because the Bank of Singapore has been ready to serve you since its establishment in 2010.

Here’s a quick trivia: Did you know that BOS’s heritage can be traced back to 1955?

Yes, you read that right! It happened because it had a mighty ING Asia Private Bank predecessor.

Also, the Bank of Singapore is OCBC Bank’s subsidiary. With OCBC Bank’s tangible and concrete impact on the private banking industry, BOS became among the most prominent competition in the financial landscape and expanded its global footprint presence.

Its best private bank services are:

  • Global Investment Opportunities
  • Family Governance and Education
  • Legacy Planning

Fun fact:

The Bank of Singapore’s slogan is “Be bold, dream big.”

Cathay United Bank Private Banking 

Did you know that Taiwan has an outstanding private bank instilled in Singapore?

Yes, and it’s none other than the Cathay United Bank Private Banking. It’s Taiwan’s best and integrates Cathay Financial Holdings’ resources and professional team in providing you with an impressive scale of all-inclusive, one-stop private banking services.

As one of the top private banks in Singapore, you can anticipate an astonishing historical origin. Cathay United Bank was founded on May 20th 1975. But it was then known as the United World Chinese Commercial Bank (UWCCB).

Today, the Cathay United Bank (CUB) Singapore’s branch offers:

  • Corporate lending
  • Cash Remittances and Deposits
  • Trade Financing
  • Financial Derivatives
  • Investment Advisory

Fun fact:

What does “Cathay” mean in “Cathay United Bank Private Banking”?

Cathay derives from the Russian word “Kitai, “meaning “China.” It became “Cathay” as it’s the English word’s cognate. 

Also, Kitai stands for Qitai, a city within China’s Xinjiang Province.

CCB Private Banking

On October 1st, 1954, a bank that rose throughout the domestic and global banking industry was the CCB Private Bank. 

What does CCB mean? 

It means the China Construction Bank, one of China’s biggest banks, was a part of the country’s government’s initiatives to strengthen its banking sector and effectively support the economy’s development.

The China Construction Bank Corporation rose in Singapore in 1998. In 2010, it upgraded to a Wholesale license from an Offshore license. 

CCB Private Banking is one of China’s “Big Four” state-owned commercial banks and rather acknowledged for its extensive branch networks, solid capital base, and comprehensive banking services, including:

  • Corporate Banking
  • Trade Finance
  • Treasury
  • Private Banking
  • FinTech

Fun fact:

Did you know that CCB has a tagline?

Its tagline or slogan is “Where there is construction, there is China Construction Bank“. Regarding company mottos, it signifies and defines CCB perfectly. 

DBS Private Bank

DBS Private Bank has an interestingly surprising and fascinating history. For one, the bank was established when the Economic Development Board lost control over the industrial financing activities, which the government took over. 

On July 16th, 1968, DBS’s foundation was meant to serve Singaporean citizens and communities requiring loans like personal loans and financial aid for the processing and manufacturing industries. Due to its background and efficiency as a private bank, it helped Singapore become the nation it is today and a global financial hub with banking services like:

  • Digital Banking
  • Credit Cards
  • Insurance
  • Financial Planning
  • Personal Loans and other loan products
  • Investments

Fun fact:

Do you prefer private banks supporting sustainability and caring for Mother Earth?

If you do, the DBS Private Bank is for you! The bank is top-rated for its dedication and commitment to sustainability and green initiatives. In 2022, the bank introduced the world’s first-ever green credit card!

What is a green credit card?

Compared to other credit cards you see today, it’s the sole CC made from 85% recycled plastic. The bank wishes to encourage and motivate its client to opt for eco-friendly products and spending habits.

Know The Top Private Banks in Singapore You’ll Partner With

Knowing what type of banks you are working with is essential for someone requiring private banking services. Upon the revelations of top private banks in Singapore, you never would have guessed its deep-rooted and rich historical background. 

Some fun facts entice you to know the private banks better and explore their banking services that are essential to your monetary demands. Aside from their past, rest assured that they can offer you high-quality and standard assistance on wealth management with precision and finesse, particularly with personalised investment strategies, philanthropic advisory, family governance and more. 

And if you prefer to take out a personal loan that meets your immediate monetary needs, you can always consider the credible and reputable licensed moneylender, Accredit. Expect personalised loan solutions with sheer transparency and an outstanding borrowing experience.

Remember, as the world of finance continues to evolve, trust in a notable and recognised private banking institution can be your compass towards your financial success.

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