THE FINANCIAL SECTOR:
PERFORMANCE AND GROWTH
     
Content Page
Modest Recovery in 2003
Financial Market Activity
 
MODEST RECOVERY IN 2003
 
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Structure of Financial Sector    
 
Structure of Financial Sector
 
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).