Despite a ubiquitous physical network, the three lenders are reducing headcount and branches as digital banking accelerates.

Scale of the Big Three's Physical Network

As of 2024, Singapore's three largest banks—DBS, OCBC, and UOB—collectively operated over 230 branches and 1,500 automated teller machines across the city-state, according to industry estimates. This physical footprint, built over decades, has long underpinned the claim that Singaporeans enjoy ubiquitous access to banking services, with a branch or ATM never more than a short walk or ride away in most residential and commercial districts.

The workforce required to sustain this network remains substantial. At the end of 2025, the three lenders employed a combined 104,266 people, with DBS accounting for the largest share at 39,721 employees (38.1%), followed by OCBC at 33,323 (31.9%) and UOB at 31,222 (30.0%).

%Source: Orionmano Industries

These figures represent a banking sector that is both deeply embedded in Singapore's physical infrastructure and, increasingly, in its digital economy. The combined 2025 workforce of 104,266 is roughly equivalent to 2.8% of Singapore's total employed resident population.

The Long-Term Decline in Branches and ATMs

Despite the enduring scale of physical infrastructure, the trajectory is unmistakably downward. Singapore bank branches and off-premise ATMs have fallen by an average of about 2% per year over the past decade, according to industry data. This steady erosion reflects a structural shift as customers migrate to mobile and online channels for routine transactions.

The workforce data tells a similar story. Total headcount across the three banks dropped by 2.6% from 107,072 in 2024 to 104,266 in 2025—a reduction of nearly 3,000 roles in a single year.

Source: Orionmano Industries

This annual decline is not a one-off event but part of a longer trend. The direction is clear: physical touchpoints and the staff who operate them are being rationalised as digital adoption deepens across Singapore's banking customer base.

Workforce Restructuring and AI Adoption

The 2025 headcount reduction of nearly 3,000 roles is concentrated unevenly across the three lenders. DBS posted the largest drop, with headcount falling by 1,624, or 3.9%, to 39,721. The bank attributed this mainly to efficiencies from earlier acquisitions in India and Taiwan, coupled with regular attrition and non-renewal of contracts. UOB reduced headcount by 849, or 2.6%, to 31,222, citing routine workforce movements and cautious hiring amid global uncertainty. OCBC's headcount fell by 333, or 1%, to 33,323, with the bank noting that recruitment continued in growth areas.

None of the banks framed the reductions as broad retrenchment exercises. The decline was instead presented as the result of integration-related changes, regular staff turnover, contract non-renewals, and tighter workforce planning.

But artificial intelligence is becoming an explicit factor in workforce strategy. DBS announced in February 2025 that it expects to reduce about 4,000 temporary and contract roles over three years, mainly through natural attrition, as AI systems take on more work. The bank stated that permanent employees were not affected. OCBC has rolled out AI, digital, and data-related programmes for employees, while UOB has encouraged staff to use AI to improve efficiency.

Morningstar equity analyst Kathy Chan noted that the headcount reductions could support cost savings for Singapore banks in 2026, although part of those savings may be offset by higher spending on technology and specialised AI talent.

The workforce changes are also spatial. UOB became the first bank to move into the Punggol Digital District, Singapore's first smart and sustainable business district, relocating 3,000 technology and innovation staff to a 300,000-square-foot facility. The hub serves as a central site for developing next-generation banking capabilities, including UOB TMRW, the bank's all-in-one digital banking application. Through that platform, UOB served 530 million personalised insights to 5 million customers across Singapore, Indonesia, Malaysia, Thailand, and Vietnam in 2025.

The broader banking sector's financial results in 2025 were mixed. DBS posted a 1% quarterly profit increase while acknowledging external uncertainties, while profits at UOB and OCBC declined.

Outlook: The physical network will continue to shrink. But the remaining branches and ATMs—supplemented by increasingly sophisticated digital channels and AI-driven service—will maintain the claim of ubiquitous access. The definition of 'ubiquitous', however, is shifting decisively from a geographical one measured in walking distance, to a digital one measured in screen taps and API calls.