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The Post Office Savings Bank, part of the Postal Services Department (prior to independence) was established on 1 January 1877 in the General Post Office Building, in Raffles Place by the British Colonial Government in Singapore.
Officially opened in 1951, it became known as Singapore's Wall Street when commercial developments and government officers were built there from the 1970s onwards, and continues to be a prime commercial address almost on par with that of Raffles Place today.