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| MODEST RECOVERY IN 2003 |
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| Structure of Financial Sector |
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As at end-2003, there were 115 commercial
banks, 53 merchant banks and 3 finance companies in the financial
sector. Overseas Union Trust and Oversea-Chinese Banking Corpn
Ltd (OCBC) Finance were integrated into the banking sector in
April 2003 and November 2003 respectively.
Total assets of financial institutions amounted to S$1.36 trillion
at end 2003, of which 63.8% were ADM assets, 27.2% domestic
banking assets, 5.5% insurance companies’ assets, 0.6%
finance companies’ assets and 2.9% capital market intermediaries’
assets (See Chart 2). |
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