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Parent. DBS Bank. Website. www .posb .com .sg. Post Office Savings Bank ( Chinese: 郵政儲蓄銀行; pinyin: Yóuzhèngchǔxù Yínháng ), often known as POSB Bank, is a Singaporean bank offering consumer banking services and is the oldest local bank in continuous operation in Singapore and currently operates under the DBS Bank. [1] [2]
Formerly known as Post Office Savings Bank, it was established on 1 January 1877 at the General Post Office Building in Raffles Place by the Straits Settlements government. [16] By 1976, POSB had one million depositors, while deposits crossed the S$ 1 billion mark.
Ireland. In Ireland, An Post provide a Post Office Savings Bank Deposit Account. It provides an interest rate of 0.15% which is added to the account at the end of the year. Customers are provided with a physical deposit book and can deposit and withdraw from the account using the deposit book at any Post Office Branch.
The Government Savings Bank Act, 1873 (5 of 1873), passed by the legislature 28 January 1873, was enacted in 1881. On 1 April 1882, Post Office Savings Banks opened throughout India (except in the Bombay Presidency). In Madras Presidency, it was limited; in the Bengal Presidency, no POSBs were established in Calcutta or Howrah.
Singapore Post Limited ( SGX: S08 ), commonly abbreviated as SingPost, is an associate company of Singtel [2] and Singapore 's designated Public Postal Licensee which provides domestic and international postal services. It also provides logistics services in the domestic and international markets, warehousing and fulfillment, and global ...
Merged into Oversea-Chinese Banking Corporation and renamed Singapore Island Bank. Not to be confused with the current Bank of Singapore which is renamed from ING Asia Private Bank. [3] Chung Khiaw Bank Limited. 崇僑銀行有限公司. Singapore. 1999. Merged into United Overseas Bank. Far Eastern Bank Limited.
Singapore. Port of Singapore Authority (1997) Post Office Savings Bank (bought by DBS Bank in 1998 and rebranded as POSBank) Singapore Broadcasting Corporation (1994, as the Television Corporation of Singapore; later renamed MediaCorp in 2001) – owned by the government through government-owned investment firms
Series of changes were instituted including organization of savings contests to incentivize usage of the postal bank's services. During the time between 1966 and 1969, the number of new accounts opened increased from 10,596 to 174,506 with deposits totaling S$57.7 million in 1969.