3 Big Banks of Singapore- DBS, OCBC and UOB

I’ve been busy taking photos at night along the Singapore River. The photo on the right is one of those that I took with a tripod which makes the images really stand out.

Like the tripod, the Singapore banks, DBS, OCBC and UOB are like the three legs supporting the Singapore economy and financing the companies, big and small here. Of course there are other big international banks competing in the landscape here, but the 3 big local banks are the big players here in Singapore with a large slice of the deposit, loan and private banking business here.

At around the same time, the three banks have reported earnings that are better than the analysts’ predictions (which isn’t saying much as they aren’t fortune tellers), indicating perhaps, that the recovery is truly starting and on its way.

Also, one of the banks, OCBC, has been busy acquiring a slice of the private banking business in the region, getting a big piece of its missing jigsaw picture by buying out the private banking business of ING for US$1.5 billion catapulted it to the second biggest bank in Singapore accolade once the acquisition is completed.

OCBC has been progressing nicely where it was once far far behind as the third player in the banking landscape in Singapore, with much of the improvement due to its long serving CEO, Mr David Conner, who is also the longest serving CEO amongst the three banks.

More good years for OCBC ahead?