Standard Chartered Bank Overview
Standard Chartered PLC was created in 1969 by the merger of the Standard Bank of British South Africa and the Chartered Bank of India, Australia and China. The London-headquartered group determined Asia region as a future economic driver far before most of its rivals, so the bank focused on development of Asian network. Thus, now it derives more than 90 per cent of its operating profits from Asia, Africa and the Middle East. Also, Standard Chartered is listed on the London and Hong Kong stock exchanges, and ranks among the top-25 companies in the FTSE-100 by market capitalisation. The bank’s European operations serve as a bridge to emerging markets. For today, StanChart has over 1,700 offices in 71 countries and employs about 90,000 people with more than a half in Asia region.
Greater China & North Asia was the largest regional contributor to the overall Group’s profit before tax, and grew profit by 3 per cent. Africa & Middle East was the fastest growing region, with profit up 29 per cent. ASEAN & South Asia generated 6 per cent growth, while profit in Europe & Americas improved 2 per cent.
Corporate & Institutional Banking improved its profit by 12 per cent and was the largest contributor to the overall Group’s profit, from a client segment perspective. Commercial Banking doubled its profit and Retail Banking’s grew by 5 per cent. Private Banking generated a profit of $94 million up from an operating loss in 2018.
Income split by key markets
Standard Chartered makes the most in rapidly developing Asian, African and Middle Eastern local markets. As Standard Chartered purpose is to drive commerce and prosperity through the diversity, the institution highly supports local corporations and medium-sized enterprises across Asia, Africa and the Middle East with over 45,000 local business clients and serves over nine million individuals and small businesses in Retail Banking.
So, the clients include large corporations, governments, banks and investors operating or investing in Asia, Africa, the Middle East, Europe and Americas. StanChart strong and deep local presence across these markets enables it to connect the clients multilaterally to investors, suppliers, buyers and sellers to enable them to move capital, manage risk, invest to create wealth, and co-create to provide bespoke financing solutions.