Number of banks reached 131 banks in 2018 in Singapore, according to the National Central Bank. This is 3.15 % more than in the previous year.
Historically, number of banks in Singapore reached an all time high of 131 banks in 2018 and an all time low of 108 banks in 2006. When compared to Singapore's main peers, number of banks in Indonesia amounted to 115 banks, 42.0 banks in Malaysia, 45.0 banks in Philippines and 30.0 banks in Thailand in 2018.
Singapore has been ranked 13th within the group of 151 countries we follow in terms of number of banks, 7 places above the position seen 10 years ago.