Standard Chartered Banks History
Standard Chartered Bank is one of the worlds leading banking groups with an extensive international presence in more than 70 countries. It is a major provider of financial services for companies, individuals and institutions in both developed and emerging markets.
The bank was originally formed by the merger of two financial institutions in 1906. The Standard Bank of British South Africa, founded in 1863, was a private bank catering to British settlers in South Africa. The Chartered Bank of India, Australia, and China was founded as a independent bank in 1853. Together these companies became The Standard Bank of South Africa and by 1969 it had grown to include operations in over 50 countries.
In 1969, Standard Bank & Trust acquired the National Bank of India (NBI) and the National Insurance and Investment Bank (NIIB) in Mumbai, creating a new multinational banking group-Standard Chartered Bank. Following the merger, the bank has quickly expanded its operations in the world’s emerging markets and has become the go-to bank for many companies doing business in India, China, the Middle East and Africa.
Today, Standard Chartered Bank operates in more than 70 countries and employs over 8000 people worldwide. It has a significant presence in the world’s major banking and financial centres, including New York, Hong Kong, London, Singapore, Tokyo, Mumbai and Dubai. It is one of the largest international banking groups in the world and has a competitive edge in global markets due to its strong balance sheet and its ability to fund large deals.
The bank’s range of products and services includes retail and corporate banking, investments, global markets, wealth and asset management, insurance, and private banking. It also provides tailored products and services such as cross-border loans, trade finance, and capital market transactions.
Standard Chartered Bank is committed to building a sustainable business for its customers and for society. The bank has been recognized for its commitment to being a responsible corporate citizen. It was chosen as the Bank of the Decade in the Asia-Pacific Region by Euromoney magazine in 2011 and has been named one of the most sustainable companies in the world by the Dow Jones Sustainability Index. In 2020, the bank was ranked 3rd globally in terms of environmental, social and governance (ESG) performance and 7th globally in terms of its sustainability performance.
The bank is focused on delivering sustainable business growth, creating value for its clients and society, and meeting the highest standards of corporate performance and integrity. It is proud of its success in areas such as risk management, financial stability and responsible banking. Standard Chartered Bank is committed to making banking easier and providing innovative financial solutions that help its customers achieve their financial goals and make a positive impact on the world.
