Singapore's top banks hungry for regional expansion

Domestic challenges prompt DBS, OCBC, UOB to seek growth elsewhere

20240617 Banks

Singapore's three largest banks are pushing to expand outside their home markets, focusing on areas such as trade finance and wealth management. (Source photos by Reuters) 

FUMIKA SATO, Nikkei staff writer

SINGAPORE -- The three largest banks in Singapore, DBS Group Holdings, United Overseas Bank (UOB) and Oversea-Chinese Banking Corp. (OCBC), are expanding in neighboring countries through acquisitions and new hiring, as they push to become regional banks in Southeast Asia.

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