Standard Chartered Bank

Chapter 1

1. COMPANY INFORMATION

1.1 Background of the Company

The Standard Chartered Bank PLC is an international banking group that is incorporated in the UK, with headquarters in London. The group focuses its activities in Asia, Africa and the Middle East and its operation is segmented under six regions: LTK and Europe, Middle East and South Asia (MESA), South East Asia, and the Americas. The Standard Chartered Group was formed in 1969 through a merger of two banks: The Standard Bank of British South Africa founded in 1863, and the Chartered Bank of India, Australia and China, founded in 1853. Both companies were keen to capitalize on the huge expansion of trade and to earn the handsome profits to be made from financing the movement of goods from Europe to the East and to Africa

1.2 Corporate Profile in Bangladesh

The Chartered Bank started operating in Bangladesh in 1948, opening a branch in Chittagong. The branch was opened mainly to facilitate the post-war reestablishment and expansion of South and Southeast Asia. The Chartered Bank opened another branch in Dhaka in 1966, where it is still headquartered. After the merger of the Chartered Bank with the Standard Bank in 1969, the Standard Chartered Bank took up a program of expansion. Bangladesh is under the MESA region, with the controlling office in Dubai. Its correspondent relationship with IBBL Bank, one of the largest bank in Bangladesh, gives its customers access to all major centers in the country. Standard Chartered Bank's worldwide network facilitates convenient connections with foreign trade and remittance business. Standard Chartered Bank's branch banking license in Bangladesh allows it to offer a full range of banking services. The Bank presently has 18 outlets in 5 cities serving over 1, 25,000 customers in the country.

1.3 Core Business in Bangladesh: Main Services

Consumer Banking:

Standard Chartered provide Mortgages, Credit Cards, Personal...