Originally Posted by Unregistered

Most foreign banks don't even have BO in SG, because SG is too expensive a location to set up BO plus SG is only a small market for them, so not worth to set up BO here. There are cheaper countries like India and if they really want their BO to be in SEA, they can choose Malaysia. All 3 SG banks have BO here because well, they are headquartered here and SG is their main market, for both corporate and retail sides. Their FO and MO are all in CBD. OCBC and UOB have their own buildings at Raffles Place while DBS is in MBFC. Their back offices are all located very, very far from the CBD, like Tampines. Very inaccessible but so long as the rent is cheap, that's all that matters. The offices are more poorly furnished and crowded than their front and middle offices too. It is clear that senior management views BO as cost centre and adopt a cost-cutting approach towards BO departments. When headcount or bonuses need to be cut, you can be sure BO will take the first hit.