SINGAPORE, June 25 (Reuters) - Singapore could do better with two instead of three local banks so they could expand overseas in a more meaningful manner, the city-state's senior statesman Lee Kuan Yew said on Friday.Currently Singapore has three banks -- DBS (DBSM.SI), which is partly owned by state investor Temasek Holdings [TEM.UL], family-controlled United Oveseas Bank (UOBH.SI) and Oversea-Chinese Banking Corp. (OCBC.SI).
"I would have preferred personally that there were only two banks because I don't think Singapore was big enough for three banks," Lee said at a dinner hosted by the Association of Banks in Singapore. Full Story
Related:
Singapore sees China and India as big banking markets - The Economic Times
Singapore sees China & India as big banking markets - Press Trust Of India
