Top 10 Banks in Singapore 2026
From DBS, OCBC and UOB to Standard Chartered, HSBC and digital banks Trust Bank and GXS, here are the top 10 banks in Singapore for 2026, with their latest results and who each bank suits best.
Singapore may be small, but its banks are anything but. Three local lenders dominate the financial industry here, and all three have had a strong start to 2026.
DBS made a record net profit of S$3.08 billion in the second quarter of 2026, and its wealth clients now hold more than S$500 billion with the bank. OCBC and UOB also grew their profits in the first half of the year. Global banks such as Standard Chartered, Citi and HSBC are pouring money into wealth centers in Singapore, and newer digital banks like Trust Bank are finally turning a profit.
Which bank should you put your salary or savings with? And if you run a business, which bank should hold your company’s cash? The answer depends on who you are. This guide looks at the top 10 banks in Singapore for 2026, ranked on scale, recent results, range of services and how useful they are to everyday customers and businesses.
Also Read: Top 10 Recruitment Agencies in Singapore 2026
Why Singapore Remains a Banking Powerhouse
Singapore has earned its name for stability. Banks in Singapore are overseen by the Monetary Authority of Singapore (MAS), and the sector is known for strong capital and deep wealth expertise.
Strong Capital and Steady Profits
The local banks started 2026 in good shape. DBS reported a Common Equity Tier 1 (CET1) ratio of 16.6% for the second quarter, while UOB reported 15.4%. Buffers like these give customers and investors confidence even when interest rates fall.
A Booming Wealth Business
Wealth management is now the growth engine. OCBC’s wealth management income grew to a record S$3.29 billion in the first half of 2026, and DBS’s wealth management fees rose 42% in the second quarter. Private banks such as Bank of Singapore are hiring to keep up.
Deposit Protection for Savers
Singapore-dollar deposits are protected by the Deposit Insurance Scheme, which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage is up to S$100,000 per depositor per Scheme member.
Digital Banks Are Growing Up
The digital banks that opened in 2022 are growing up. Trust Bank became profitable in March 2026, and GXS Bank was named Singapore’s Best Digital Bank in Euromoney’s 2026 Awards for Excellence.
Top 10 Banks in Singapore at a Glance
| Rank | Name | Core segment | Key 2026 figure |
|---|---|---|---|
| 1 | DBS Bank | Universal banking, wealth, SMEs | Record 2Q26 net profit of S$3.08 billion |
| 2 | OCBC | Universal banking, wealth, insurance | 1H26 net profit of S$4.19 billion |
| 3 | UOB | Retail, SME and corporate banking | 1H26 net profit of S$2.9 billion |
| 4 | Standard Chartered Singapore | International, priority and corporate banking | No. 7 on LinkedIn Top Companies Singapore 2026 |
| 5 | Citibank Singapore | Wealth, cards, global banking | No. 15 on LinkedIn Top Companies Singapore 2026 |
| 6 | HSBC Singapore | International and wealth banking | Largest Singapore wealth center opened February 2026 |
| 7 | Maybank Singapore | Retail, SME, Islamic banking | Singapore at 20% of group revenue; target 30% by 2030 |
| 8 | Bank of Singapore | Private banking | AUM above US$145 billion (Q3 2025) |
| 9 | Trust Bank | Digital retail banking | First profitable month in March 2026 |
| 10 | GXS Bank | Digital retail and small business banking | Euromoney Singapore’s Best Digital Bank 2026 |
Top 10 Banks in Singapore (2026)
Below are the banks that matter most in Singapore this year, from the local giants to the newest digital players.
1. DBS Bank
DBS Bank was founded in 1968 to support the new industries being built in Singapore, and its name used to stand for Development Bank of Singapore. It bought POSB in 1998 and is currently run by CEO Tan Su Shan. At the end of June 2026, DBS held S$638 billion in deposits and S$469 billion in loans.
DBS posted a record profit of S$3.08 billion in the second quarter of 2026, up 9%, as total income crossed S$6 billion in a single quarter for the first time. First-half net profit reached S$6.01 billion, and wealth assets under management rose past the S$500 billion mark to S$516 billion. In July 2026, DBS became the first company listed on the Singapore Exchange with a market value above S$200 billion. Euromoney named DBS Singapore’s best bank in its 2026 Awards for Excellence.
Key Banking Solutions
✔ Everyday accounts, cards and digital banking through POSB and DBS
✔ Wealth management and private banking
✔ SME and corporate banking, trade finance and cash management
✔ Treasury and markets services
Best for: Customers who want the biggest local network and a full range of personal, wealth and business services.
2. OCBC
OCBC was created in 1932 when three banks joined together: Chinese Commercial Bank, Ho Hong Bank and Oversea-Chinese Bank. It is currently run by CEO Tan Teck Long and operates in Singapore, Malaysia, Indonesia, Greater China and beyond. Its group includes the private bank Bank of Singapore.
OCBC reported a record first-half 2026 net profit of S$4.19 billion, a 13% increase, with second-quarter net profit at S$2.22 billion. Total income for the half was S$8.00 billion. Wealth management income hit a record S$3.29 billion, and banking wealth management assets under management climbed to an all-time high of S$350 billion. That wealth strength sets OCBC apart from its peers.
Key Banking Solutions
✔ OCBC 360 Account and everyday personal banking
✔ Premier and private banking through Bank of Singapore
✔ SME and corporate banking
✔ Regional banking across Southeast Asia and Greater China
Best for: Savers and investors who want strong wealth services alongside everyday banking.
3. United Overseas Bank (UOB)
United Overseas Bank was founded in 1935 by Wee Kheng Chiang as United Chinese Bank, and it changed its name to United Overseas Bank in 1965. Mr Wee Ee Cheong is UOB’s Deputy Chairman and Chief Executive Officer. The bank focuses on Southeast Asia and has a strong SME franchise.
UOB reported a net profit of S$2.9 billion for the first half of 2026, up 3% from a year earlier, while second-quarter net profit rose 10% to S$1.5 billion. High-net-worth assets under management reached S$204 billion, an increase of 7%, and the bank declared an interim dividend of 88 cents per share. Euromoney named UOB Singapore’s best bank for SMEs in its 2026 Awards for Excellence.
Key Banking Solutions
✔ UOB One Account and personal banking
✔ SME banking and business financing
✔ Wealth management and private banking
✔ Cross-border banking across ASEAN
Best for: Small and mid-sized businesses, and customers with regional banking needs.
4. Standard Chartered Singapore
Standard Chartered opened its first branch in Singapore in 1859. In October 1999, it became one of the first international banks to be granted a Qualifying Full Bank (QFB) license. It has 11 branches in Singapore, five of them Priority Banking Centres, plus more than 30 ATMs. Singapore is also home to much of the group’s global leadership and its technology operations.
In August 2020, Standard Chartered became the first and only bank to be granted “Significantly Rooted Foreign Bank” status in Singapore. It partnered with FairPrice Group to launch Trust Bank in 2022. Standard Chartered ranked No. 7 on LinkedIn’s 2026 Top Companies list for Singapore, a sign that it’s one of the most sought-after banks to work for.
Key Banking Solutions
✔ Priority and private banking
✔ Multi-currency and international accounts
✔ Corporate, commercial and institutional banking
✔ Trade finance and cash management
Best for: Expats and businesses that need an international bank with deep local roots.
5. Citibank Singapore
Citibank came to Singapore in 1902 as the International Banking Corporation, the first American bank to open a branch in the city. It was one of the first four foreign banks to receive a QFB license in 1999, and Citibank Singapore Limited began operating as a local subsidiary on January 1, 2005.
Citi has been leaning into wealth. Its Citi Wealth hub at 268 Orchard, which the bank describes as its largest wealth advisory hub globally, has handled more than 16,000 client engagements since opening. The bank is headquartered at Asia Square Tower 1, and Citi ranked 15th on LinkedIn’s 2026 Top Companies list for Singapore.
Key Banking Solutions
✔ Citigold and wealth advisory
✔ Credit cards and personal banking
✔ Global transfers and multi-currency services
✔ Corporate and commercial banking
Best for: Affluent clients and frequent travelers who want a global network.
6. HSBC Singapore
HSBC opened its first office in Singapore in 1877, but its history in the city goes back to 1856 through the Mercantile Bank of India, which HSBC took over in 1959. HSBC Bank (Singapore) Limited is led by CEO Wong Kee Joo, and its head office is at Marina Bay Financial Centre Tower 2.
Wealth has been a big focus for HSBC. In February 2026, it opened its biggest wealth center in Singapore, a 7,884-square-foot space at Singapore Land Tower in Raffles Place. It’s the fourth wealth center HSBC has opened in Singapore since 2024, and it includes the bank’s first dedicated Premier Elite space in the city. HSBC also introduced a Wealth Academy in January 2026.
Key Banking Solutions
✔ Everyday Global Account and multi-currency banking
✔ Premier and Premier Elite wealth services
✔ Commercial and investment banking
✔ Private banking and insurance
Best for: Internationally mobile customers who need cross-border banking and wealth advice.
7. Maybank Singapore
Maybank, or Malayan Banking Berhad, is a Malaysian bank. It was incorporated in 1960 and began opening branches in Singapore the same year. Its community financial services business runs through Maybank Singapore Limited, which MAS approved in 2018 as a locally incorporated bank with qualifying full bank privileges. Alvin Lee has been its Singapore CEO since 2024.
Singapore currently contributes 20% of Maybank’s annual revenue, and Lee wants to raise that share to 30% by 2030, according to Fortune. Maybank launched an Islamic wealth management hub in Singapore in 2023 and Singapore’s first takaful product in 2025. Its Malaysian network also makes it a natural fit for businesses active in the Johor-Singapore Special Economic Zone.
Key Banking Solutions
✔ Personal and premier banking
✔ SME and business banking
✔ Islamic banking and wealth management
✔ Singapore-Malaysia cross-border services
Best for: Customers and companies with strong links to Malaysia.
8. Bank of Singapore
Bank of Singapore is OCBC’s private banking arm. It opened in January 2010 after OCBC acquired ING Asia Private Bank, which was later combined with OCBC Private Bank. It is headquartered in Singapore and has branches in Hong Kong and the Dubai International Financial Centre.
Its assets under management passed US$145 billion as of the third quarter of 2025, up almost 20% since early 2023. Under CEO Jason Moo, it hopes to become one of Asia’s top five private banks within five years, and it planned to grow its relationship managers from about 400 to 500, with faster hiring in 2026.
Key Banking Solutions
✔ Private banking for high-net-worth clients
✔ Investment advisory and portfolio management
✔ Wealth planning and lending
✔ Offices in Singapore, Hong Kong and Dubai
Best for: High-net-worth individuals and families seeking a dedicated private bank.
9. Trust Bank
Trust Bank launched in September 2022 as a digital bank backed by Standard Chartered and FairPrice Group. It has more than 1 million clients in Singapore and is led by CEO Dwaipayan Sadhu. Its app covers savings, credit cards, loans, insurance and investing.
Trust Bank reached profitability for the first time in March 2026, making it the first of Singapore’s digital banks to announce this milestone. In 2025, its revenue grew 39% while costs fell 7%, and it disbursed more than S$900 million in loans. More than 170,000 customers use Trust as their main bank, and about 50,000 opened TrustInvest accounts in 2025.
Key Banking Solutions
✔ Savings Pots and everyday accounts
✔ Trust credit cards
✔ Personal loans and insurance
✔ TrustInvest investing
Best for: Digital-first customers who want simple savings and rewards.
10. GXS Bank
GXS Bank is a digital bank owned by a consortium of Grab and Singtel. It launched in 2022 under a full digital banking license from MAS, starting with the GXS Savings Account for gig workers, self-employed people and young earners. Customers can separate their money into “Pockets” and earn interest daily.
By building around the Grab and Singtel ecosystems, GXS offers embedded financing and banking within the Grab app. In July 2026, Euromoney named GXS Bank Singapore’s Best Digital Bank, and the wider GXS Group became the first bank to be named ASEAN’s Best Digital Bank for Consumers.
Key Banking Solutions
✔ GXS Savings Account with Pockets
✔ GXS credit card with Grab and Singtel
✔ Business banking for small merchants
✔ Embedded financing in the Grab app
Best for: Gig workers, Grab users and small merchants.
How to Choose the Right Banking Partner in Singapore
Knowing what you need from a bank is the best place to start when comparing banks in Singapore.
Check Licensing and Deposit Protection
Every bank on this list is licensed by MAS. If you keep Singapore-dollar savings, make sure the bank is an SDIC Scheme member, since deposits are insured up to S$100,000 per depositor per member bank.
Match the Bank to Your Needs
If you want more branches and ATMs, local banks will suit you best. International banks are great if you send money overseas, and if you’re happy banking only on your phone, a digital bank may be the right fit.
Compare Interest Conditions
Many accounts pay higher interest only if you credit your salary, spend on the bank’s cards or meet other conditions. The OCBC 360 Account and UOB One Account both work this way, so check the current terms before you switch.
Think About Wealth and Business Needs
If you plan to invest, look at what the bank’s wealth division offers and what balances it requires. HSBC’s Premier Elite, for example, needs a total relationship balance of S$1.2 million. Business owners should compare SME account fees, trade finance and digital tools.
Consider Branch Access
Foreign banks with QFB status are allowed to operate only a limited number of branches in Singapore. If you prefer to speak to someone in person, DBS, OCBC and UOB will be easier to reach.
Frequently Asked Questions About Banks in Singapore
Which is the biggest bank in Singapore?
DBS is the largest bank in Singapore by total assets, according to Forbes Global 2000 data. In July 2026, it became the first company listed on the Singapore Exchange to pass S$200 billion in market value, and it reported S$638 billion in deposits at the end of June 2026.
Are digital banks in Singapore safe?
Digital banks such as Trust Bank and GXS Bank are licensed and regulated by MAS. If you save in Singapore dollars, check the SDIC member list to confirm your deposits are covered.
Which bank is best for foreigners in Singapore?
There is no single best bank for everyone among the banks in Singapore. International banks such as Standard Chartered, Citi and HSBC are strong on multi-currency and cross-border services, while DBS, OCBC and UOB offer the widest local networks.
Which bank is best for SMEs?
Euromoney named UOB Singapore’s best bank for SMEs in 2026. DBS, OCBC and the digital banks also offer business accounts, so compare fees and features before you choose.
Conclusion
These are the top 10 banks in Singapore for 2026, and together they show a market in good health. The local banks are posting strong results, foreign banks are growing their wealth businesses, and even the newer digital banks are starting to turn a profit.
The right choice depends on your goals. Pick a local giant for reach, an international bank for global needs, a private bank for serious wealth, or a digital bank for simple everyday banking.
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Chirag Thakur
Editor, Business News · CEO Review Magazine
Chirag Thakur covers business news for CEO Review Magazine, along with markets, technology and industry explainers and the magazine's Top 10 rankings of companies and leaders.
