Overview

• Singapore’s financial services sector expanded by 6.8% in 2024, more than doubling the previous year’s pace and contributing about 14% of GDP.
• Assets under management climbed 12.2% to $6.07 trillion last year, the first time Singapore’s AUM has exceeded $6 trillion.
• MAS net profit surged to $19.7 billion in the fiscal year ending March 2025, driven by $31.4 billion in investment gains despite a $3.4 billion currency translation loss.
• The central bank projects GDP growth of 0% to 2% in 2025 as trade tensions and weaker external demand threaten to slow momentum.
• MAS imposed $27.45 million in penalties on nine financial institutions for anti–money laundering breaches and said an equities market review group will recommend revitalization measures by year-end.