From the establishment of its earliest banks in the mid-19 th century to becoming one of the world’s most advanced financial hubs, Singapore’s banking evolution mirrored the country’s journey from a modest colonial entrepôt for the trade between Asia, Europe, and then the United States to one of the world’s wealthiest and most developed nations.  Formerly a British colony, Singapore turned to its banks to power its economic growth and transformation after becoming a sovereign country in 1965.