Foreign banks dominate Singapore's market share by total assets.
According to Bank of America Merrill Lynch, in terms of total assets, DBS is the largest Singapore bank, benefitting from acquisitions domestically (POSBank) and in Hong Kong (Dao Heng Bank). The latter remains its largest offshore contributor based on loan book.
"UOB and OCBC, on the other hand, have concentrated on the domestic market and ventured into neighboring ASEAN markets via smaller acquisitions. UOB remains the only bank with a Thai subsidiary."
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