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POSB Bank (or just referred to as POSB) is a Singaporean bank offering consumer banking services and is the earliest bank in constant operation in Singapore. Developed on January 1, 1877 as the Post Office Savings Bank, the bank now runs as part of DBS Bank, which acquired the organization and its subsidiaries on November 16, 1998.
Prior to its acquisition, the bank was a major public bank offering affordable banking services to Singaporeans. DBS Bank attempts to continue this tradition by promising to keep expenses low for standard savings accounts, and to exempt kids, full-time trainees listed below the age of 21 years and full-time National Servicemen from bank charges.
DBS Bank Ltd is an international banking and financial services corporation headquartered in Marina Bay, Singapore. The company was known as The Development Bank of Singapore Limited, before the present name was taken up in July 2003 to mirror its changing role as a regional bank.The bank’s strong capital position, together with “AA-” and “Aa1” credit ratings by Standard & Poor’s and Moody’s that are among the highest in the Asia-Pacific region, received it Global Finance’s “Safest Bank in Asia” accolade for six consecutive years, from 2009 to 2015. The Bank was also awarded the Best Digital Bank in the World in the year 2016 by EuroMoney. With operations in 17 markets, the bank has a regional network spanning more than 250 branches and over 1,100 ATMs across 50 cities