POSB Bank

Overview

POSB Bank is Singaporean savings bank brand operated by DBS Bank Ltd + Singapore's largest savings bank by retail customers + DBS Group SGX: D05 parent post-2001 DBS + POSB merger consolidation + ~4M+ Singapore POSB customers within DBS Group [1, sg-cro].

History

Jan 1 1877 — Post Office Savings Bank POSB founded by Singapore colonial government distinctive Singaporean banking heritage as Singapore's oldest savings bank.

Nov 16 1998 — Singapore government sells POSB to DBS Group for S$1.6B.

2001 — POSB + DBS merger consolidation under DBS Group; POSB brand retained as DBS savings bank brand for Singaporean retail customers.

2010 — DBS digibank SG mobile app launch covering POSB customers.

Ownership & operator

Operating entity: POSB Bank (Singaporean savings bank brand operated by DBS Bank Ltd; DBS Group parent).

Major shareholders: DBS Group Holdings Ltd (SGX: D05; Singapore's largest commercial bank by assets; Temasek Holdings Singapore sovereign wealth fund ~29% major shareholder) fully owned.

Regulators: MAS.

Technical integration

DBS digibank SG mobile app (iOS + Android; covers POSB customers; ~4M+ Singapore POSB customers within DBS Group) + posb.com.sg + dbs.com.sg online + POSB branch network across Singapore + POSB everyday Visa + Mastercard cards; PayNow + SG IBAN + SGQR + FAST SG.

Implementations & partners

DBS Group parent: [[dbs-singapore]] (DBS Singapore; SGX: D05; Singapore's largest commercial bank by assets; Southeast Asia's largest banking group by assets + market capitalization) + dbs-paylah (DBS PayLah! Singapore mobile wallet) + [[dbs-hk]] (DBS Hong Kong; DBS Group Singapore parent).

Major Singaporean banking + payments competitors: [[uob-singapore]] (UOB United Overseas Bank; SGX: U11; Singapore's #2 commercial bank by assets) + [[ocbc-bank]] (OCBC Oversea-Chinese Banking Corporation; SGX: O39; Singapore's #2 commercial bank by assets) + [[standard-chartered-singapore]] (Standard Chartered Singapore; LSE: STAN + SEHK: 2888) + [[citibank-singapore]] (Citibank Singapore; Citigroup NYSE: C subsidiary) + [[hsbc-singapore]] (HSBC Singapore; HSBC Holdings global UK parent) + [[maybank-singapore]] (Maybank Singapore; Malayan Banking Berhad Malaysian parent) + [[trust-bank]] (Trust Bank Singapore; Standard Chartered + FairPrice JV; Singapore's largest digital-only retail bank by customers).

Regulators: MAS.

Status

Active, Singaporean savings bank brand operated by DBS Bank Ltd + Singapore's largest savings bank by retail customers + DBS Group SGX:D05 parent post-2001 DBS + POSB merger consolidation + ~4M+ Singapore POSB customers within DBS Group [1, 2].

Sources

• 1 POSB — official
• 2 POSB Bank — Wikipedia
• sg-cro In-corpus: reports/countries/SG-singapore.md

Source

Biography extracted from posb-bank.md. See matrix.md for standards-support matrix if present.