Locals to stay in control of domestic lenders
(Singapore) - Singapore is retaining its rules barring foreign ownership of domestic lenders for the time being, although the Intelligent Island may consider a change should scale become a critical issue.
Singapore currently has three domestic lenders - DBS Group, United Overseas Bank (UOB) and OCBC - with continual rumours of Citigroup and Standard Chartered Bank prepared to consider bidding for a local bank should the authorities ever relax restrictions on the ownership issue.
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