Wallets/posb-bank
POSB Bank
0 standards supported
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, Singapore report.
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 Bank (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 Hong Kong (DBS Hong Kong; DBS Group Singapore parent).
Major Singaporean banking + payments competitors: United Overseas Bank (UOB) (UOB United Overseas Bank; SGX: U11; Singapore's #2 commercial bank by assets) + OCBC Singapore App (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 (Singapore) (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
- Singapore report In-corpus:
reports/countries/SG-singapore.md
Source
Biography extracted from posb-bank.md. See matrix.md for standards-support matrix if present.