Summary
Banks in Singapore industry profile provides top-line qualitative and quantitative summary information including: market size (value 2019-24, and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Banking industry involves the activities of banks and similar institutions that offer financial services such as savings, loans, mortgages, and related services to businesses and consumers. Market value represents the total assets held by banks or related institutions in a country in a year. The market share represents the total asset held by the companies in the specific year. Geographical segmentation measures the total assets held by commercial banks of a particular region.
- The Singaporean banking industry recorded assets of $1,466.0 billion in 2024, representing a compound annual growth rate (CAGR) of 7.2% between 2019 and 2024.
- The bank credit segment accounted for the industry's largest proportion in 2024, with total assets of $546.7 billion, equivalent to 37.3% of the industry's overall value.
- The Singaporean banking industry grew by 12.1% in 2024, primarily driven by the rise in consumer credit, as individuals increasingly relied on loans for housing, education, and personal consumption. The growth in consumer credit expanded banks’ loan portfolios and strengthened their overall asset base. According to Statistics Singapore, consumer credit in Singapore rose by 1.5% in December 2024 compared to December 2023, contributing significantly to the increase in total commercial bank assets.
Scope
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the banks market in Singapore
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the banks market in Singapore
- Leading company profiles reveal details of key banks market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Singapore banks market with five year forecasts
Reasons to Buy
- What was the size of the Singapore banks market by value in 2024?
- What will be the size of the Singapore banks market in 2029?
- What factors are affecting the strength of competition in the Singapore banks market?
- How has the market performed over the last five years?
- What are the main segments that make up Singapore's banks market?
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Table of Contents
1 Executive Summary
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive landscape
2 Market Overview
2.1. Market definition
2.2. Market analysis
3 Market Data
3.1. Market value
4 Market Segmentation
4.1. Category segmentation
4.2. Geography segmentation
5 Market Outlook
5.1. Market value forecast
6 Five Forces Analysis
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 Competitive Landscape
7.1. Market share
7.2. Who are the leading players?
7.3. What are the strategies of the leading players?
7.4. What have been the recent M&A activities?
8 Company Profiles
8.1. DBS Group Holdings Ltd
8.2. Oversea-Chinese Banking Corp Ltd
8.3. United Overseas Bank Ltd
8.4. Standard Chartered Bank (Singapore) Ltd
9 Macroeconomic Indicators
9.1. Country data
10 Appendix
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
List of Tables
Table 1: Singapore banks industry value: $ billion, 2019-24
Table 2: Singapore banks industry category segmentation: % share, by value, 2019-24
Table 3: Singapore banks industry category segmentation: $ billion, 2019-24
Table 4: Singapore banks industry geography segmentation: $ billion, 2024
Table 5: Singapore banks industry value forecast: $ billion, 2024-29
Table 6: Singapore banks industry share: % share, by value, 2024
Table 7: DBS Group Holdings Ltd: Key Facts
Table 8: DBS Group Holdings Ltd: Annual Financial Ratios
Table 9: DBS Group Holdings Ltd: Key Employees
Table 10: DBS Group Holdings Ltd: Key Employees Continued
Table 11: Oversea-Chinese Banking Corp Ltd: Key Facts
Table 12: Oversea-Chinese Banking Corp Ltd: Annual Financial Ratios
Table 13: Oversea-Chinese Banking Corp Ltd: Key Employees
Table 14: Oversea-Chinese Banking Corp Ltd: Key Employees Continued
Table 15: United Overseas Bank Ltd: Key Facts
Table 16: United Overseas Bank Ltd: Annual Financial Ratios
Table 17: United Overseas Bank Ltd: Key Employees
Table 18: Standard Chartered Bank (Singapore) Ltd: Key Facts
Table 19: Standard Chartered Bank (Singapore) Ltd: Key Employees
Table 20: Singapore Size of Population (Million), 2020-24
Table 21: Singapore Real GDP (Constant 2010 Prices, $ Billion), 2020-24
Table 22: Singapore GDP (Current Prices, $ Billion), 2020-24
Table 23: Singapore Inflation, 2020-24
Table 24: Singapore Consumer Price Index (Absolute), 2020-24
Table 25: Singapore Exchange Rate, 2019-24
List of Figures
Figure 1: Singapore banks industry value: $ billion, 2019-24
Figure 2: Singapore banks industry category segmentation: $ billion, 2019-24
Figure 3: Singapore banks industry geography segmentation: % share, by value, 2024
Figure 4: Singapore banks industry value forecast: $ billion, 2024-29
Figure 5: Forces driving competition in the banks industry in Singapore, 2024
Figure 6: Drivers of buyer power in the banks industry in Singapore, 2024
Figure 7: Drivers of supplier power in the banks industry in Singapore, 2024
Figure 8: Factors influencing the likelihood of new entrants in the banks industry in Singapore, 2024
Figure 9: Factors influencing the threat of substitutes in the banks industry in Singapore, 2024
Figure 10: Drivers of degree of rivalry in the banks industry in Singapore, 2024
Figure 11: Singapore banks industry share: % share, by value, 2024
