Standard Chartered Bank is a London based bank, currently operational within over 70 nations with more than 1,700 branches and 73,000 strong workforce as of April 2009. Although the bank is located in Britain, still a huge chunk of its revenues originate from the continents of Asia, Africa and Middle East.
Standard Chartered Bank was formed as the merger of two banks viz. The Chartered Bank of India, Australia & China and The Standard Bank of British South Africa. The merger took place in the year 1969.
Standard Chartered Bank has been actively engaged in acquisitions and expansion, and acquired Grindlays Bank from ANZ Bank in the year 2000 which considerably increased its banking operations in the nations of India and Pakistan. The bank defeated HSBC Bank in a bid to acquire Korea First Bank in the year 2005, which was renamed as SC First Bank after the acquisition.
In the year 2006 the bank announced to have acquired an 80% stake in the Union Bank of Pakistan for a sum of US$ 511 Million, making the Standard Chartered Bank (Pakistan) the 6th largest bank in the nation of Pakistan.
Presence in India
In India, the Standard Chartered Bank introduced its first branch in Kolkata on 12th of April 1858. Later on, when Mumbai took over Kolkata as the financial capital of India, the bank administration was shifted to Mumbai from Kolkata.
Currently, the bank offers a wide variety of banking services and products to the Indian customers under Personal Banking, Private Banking, SME Banking and Wholesale Banking categories.
The services being offered include Regular Banking Services, Credit Cards, Debit & Prepaid cards, Loans & Mortgages, NRI Banking Services, Executive Banking and Insurance & Investment products.
As of April 2009, Standard Chartered bank is located in all the prominent cities of India, including New Delhi, Mumbai, Kolkata, Bangalore, Hyderabad, Ahmedabad etc.
Standard Chartered Bank,
90 Mahatma Gandhi Road,
Mumbai, 400 001, India