Standard Chartered PLC is a multinational bank and financial services company. It is headquartered in London in United Kingdom.
It has more than 1200 branches in more than 70 countries, and it employs around 87000 people, and is one of the most globally recognized banks across the world. It’s a bank which is universal in nature which has operations in consumer, corporate and treasury services.
Although is it headquartered in London, It does not have retail banking branches in UK and more than 90% of the profits come from Asia, Africa and Middle East. Standard Chartered too has a primary listing on the London Stock Exchange. It’s also a constituent of the FTSE 100 Index.
In India, Standard Chartered bank has contacted PMO’s office to go after Winsome group second to India’s largest wilful defaulter Vijay Mallya’s Kingfisher Airlines. It owes 6,800 crore to more than 15 banks in India. The lenders are led by Stan Chart are yet to accept the repayment plan. The bank could not pay back banks due to huge derivative losses. These losses were suffered by Middle East clients. Meanwhile in Africa, Standard chartered bank will be giving services on digital platform. This means they will be providing banking services on mobiles, tablets and laptops in Nigeria, Tanzania, Uganda, Botswana, Ghana, Kenya, Zambia and Zimbabwe.
The banks has set its plans set to launch fingerprint technology in 2016 in Africa. This is part of digital strategy of the continent. This is part of $1.5 billion investment plan of Standard Chartered. The bank’s online banking platform is also gaining an upgrade with added features of improved navigation and user friendly interface. Customers will also be offered services in wealth management too in Africa.