Bank of Singapore renamed Singapore Island Bank
The old Bank of Singapore has been renamed Singapore Island Bank.
OCBC Bank has renamed ING Asia Private Bank also as Bank of Singapore. Therefore, the bank that houses the division, finatiQ, has changed its name to Singapore Island Bank to differentiate these two separate businesses. This is purely a name change for the former Bank of Singapore and the purpose is to avoid confusion. There is no change to finatiQ’s business model as an Internet bank, and finatiQ under Singapore Island Bank remains a wholly-owned subsidiary of OCBC Bank.
The group wants to maintain the strengths of Singapore in the new name that leverages on Singapore’s international reputation for its financial soundness, efficiency, transparency and best-in-class services.