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Standard Chartered Bank (China) Limited (“Standard Chartered China”) today launched its credit card business in China. Targeting mid- and high-end customers, Standard Chartered’s newly launched credit cards combine international and local features. Leveraging its global network strengths, the Bank has integrated resources and platforms in mainland China, Hong Kong and Taiwan, in order to provide...
Standard Chartered Bank (China) Limited (“Standard Chartered China”) today announced that the Bank has received approval from the People’s Bank of China (PBoC) to be one of the first market-makers for direct trading between the RMB and the Great Britain Pound (GBP) on the interbank foreign exchange market. The Bank clinched a direct RMB/GBP trade...
Standard Chartered is launching two pioneering indicators to help shed light on the business, investment and economic outlook for select African markets. The Bank will publish a Business Sentiment Indicator for Nigeria, Ghana and Kenya and a Consumer Price Tracker for Nigeria and Ghana, partnering with international research organisations, MNI Indicators and Premise Data Corporation....
Standard Chartered Bank (China) Limited (“Standard Chartered China”) today announced that the Bank has received approval from the People’s Bank of China (PBoC) to be one of the first market-makers for direct trading between the RMB and the Great Britain Pound (GBP) on the interbank foreign exchange market. The Bank clinched a direct RMB/GBP trade...
Standard Chartered today announced that the Standard Chartered Renminbi Globalisation Index (Bloomberg: SCGRRGI <index>), or the RGI, reached 1,807 in April, up 4.1% from the previous month and 91.8% year-on-year. Uptrend appears to remain intact, albeit at a slightly slower pace. Cross-border Renminbi payments and offshore Renminbi (CNH) FX turnover – the two biggest RGI...
Emerging market consumers are confident about economic growth, highly optimistic about their personal prosperity, and have clear aspirations for spending their newly created wealth, finds a new independent study commissioned by Standard Chartered. Download the study (PDF) The study of 5,000 affluent and emerging affluent consumers across five of Standard Chartered’s key markets – Indonesia,...
The spending habits of emerging-market consumers are changing, but to what? View our infographic to find out
The Board of Directors (the “Board”) of Standard Chartered PLC (the “Company”) today announce the appointment of Andrew Nigel Halford (“Andy”), age 55, to the Board as Group Finance Director and Group Executive Director. In line with the Board’s announcement on 9 January 2014, Richard Meddings will step down from the Board with effect from 30...
Standard Chartered today announced that the Standard Chartered Renminbi Globalisation Index (Bloomberg: SCGRRGI <index>), or the RGI, reached a new high of 1,736 in March, up 9.4% from the previous month and 91.1% year-on-year, despite slowing China growth and FX uncertainties. The increase was broad-based, led by rising Renminbi deposits in Hong Kong and Taiwan,...
As part of the Eurofinance Offshore RMB Corporate Treasury Network (ECTN), Standard Chartered and EuroFinance conducted a series of expert briefings for corporate treasurers on the latest developments and initiatives around renminbi (RMB) usage and treasury management. Treasury professionals from Europe, the Middle East, Africa, Asia and the Americas participated in the webinars. The offshore RMB group consists...
Standard Chartered has appointed Tom Willett as the Bank’s Global Head of Mergers and Acquisitions (M&A). This appointment is effective 1 June 2014. Tom takes over from Andrew Suckling who will be taking a 12 month sabbatical. Tom joined Standard Chartered in 2012 as the Bank’s Head of M&A for Europe. Prior to joining the...
To maximise opportunities in key growth regions, the Bank has recently implemented a new structure of eight specific regions: ASEAN, Greater China, North East Asia, MENAP, South Asia, Africa, Europe and the Americas. As CEO ASEAN, Cheng Teck will be responsible for delivering the refreshed and sharpened strategy to realise the growth and return aspirations...
Global trade patterns have changed dramatically in the last two decades. Emerging markets now account for 42% of world exports, up from 19% in 1990, or 52% excluding intra-EU trade. Asia has firmly established itself as the centre of the “made in the world” vertical global supply chain, with China emerging as a mega-trader. Trade...
Standard Chartered has appointed Karin Flinspach as Head of Cash Products, Transaction Banking. Karin will be based in Singapore and report to George Nast, Global Head, Product Management, Transaction Banking. In this role, Karin will be responsible for leading the Bank’s cash capabilities in liquidity products, payables and cash collections. As Head of Cash Products,...
Standard Chartered announced that the Standard Chartered Renminbi Globalisation Index (Bloomberg: SCGRRGI <index>), or the RGI, rose to a new high of 1,586 in February, up 6.8% from the previous month and 86.5% year-on-year. The February increase was broad-based, led by rising offshore deposits and cross-border Renminbi payments. Despite the recent shake-out of one-sided Renminbi appreciation,...
An investment in China isn’t just a bet on growth. It’s also an investment in change. The mutual recognition (MR) scheme for Chinese and Hong Kong-domiciled funds will debut soon, adding its opportunities to a menu of cross-border access programmes and drawing particular attention to the Hong Kong-Mainland nexus. New flows of funds, moving through...
Today, Standard Chartered launches its 2013 Sustainability Review, which captures the progress and commitments that we have made in supporting social and economic development across the markets in which we operate. Sustainability is integrated in how we do business, guiding everything we do from the services we provide, to the way we run our bank...
Standard Chartered has today published its quarterly Global Focus. The report highlights that a number of the world’s economies are in a phase of much-needed transition as they move to achieve more balanced and sustainable growth. Transition will bring elevated risks and volatility, as well as higher growth rates. It takes various forms in different...
Following the announcement on 29 November 2013 that Jamie Dundas and Rudy Markham will step down from the Board as independent Non-Executive Directors in 2014, the Board confirms, in line with LR 9.6.12, that the effective date of their resignations will be 1 May 2014. Lars Thunell who joined the Board as an independent Non-Executive...
Liverpool FC and Standard Chartered are today kicking-off a week of activity to support Standard Chartered’s global charitable initiative Seeing is Believing, which aims to tackle avoidable blindness. The highlight of the week will be the match against Tottenham Hotspur FC on Sunday 30 March, where Liverpool FC will replace the Standard Chartered logo on...
Standard Chartered Bank today marked yet another milestone in the endeavour to offer cutting edge banking services to its customers by launching its Islamic banking offering under the brand name of Saadiq. With this launch Kenya becomes the first market for Standard Chartered’s African footprint for Islamic banking. “Saadiq” – which means Truthful in Arabic...