Standard Chartered reaffirms commitment to support clients in the Greater Bay Area and beyond
Leveraging the Bank’s differentiated footprint and capabilities, its new GBA centre aims to boost innovation, trade, and investment flows, connecting individual and corporate clients across Asia and beyond.
Hong Kong – Standard Chartered Bank today announced the official opening of its Greater Bay Area (GBA) Centre, marking the completion of the US$40 million development. This underscores the Bank’s commitment to contribute to the growth of the Guangdong-Hong Kong-Macao GBA.
Located at the heart of GBA in Guangzhou city, the Standard Chartered GBA Centre supports the dynamic and fastest growing opportunities in the new economy sectors in the region, serving the cross-border needs of clients across consumer, private, business, corporate, commercial, and institutional banking.
Serving as a key business, operations, and technology hub, the GBA Centre comprises the Bank’s banking centre and its support network to provide a full range of banking solutions for clients in the region. It also houses the Bank’s first axess labs in Mainland China to conduct research and aims to provide cutting-edge Fintech innovation and market disruptive products to enhance our digital banking services through external partnerships. More than 700 employees are now based in the GBA Centre, and the number is expected to exceed 1,600 by 2023.
Benjamin Hung, Chief Executive Officer, Asia, Standard Chartered, said:
“GBA is a strategic focus for Standard Chartered, and our GBA business will play an integral role in contributing to the Bank’s aspirations in Asia. This year, we are accelerating our focus in seizing China opportunity, with the ambition to double its profit contribution to the
Group by 2024. We have committed a US$300m investment over the next three years into our China-related businesses and capabilities, including GBA.
GBA acts as an important gateway connecting China to the world. The links between GBA and the member countries under the Regional Comprehensive Economic Partnership will enhance intra-Asia connectivity and bolster a rapidly rising China-ASEAN corridor.
With our extensive network, product and talent capabilities in Asia, we are well-placed to capture the significant opportunities that come with China’s continuous opening and RMB internationalisation to provide seamless and innovative banking services for individuals and corporate clients.”
Anthony Lin, Chief Executive Officer, Greater Bay Area, Standard Chartered, said:
“Bringing businesses, functions and innovation under one roof at the GBA centre solidifies our position as the ‘Go-to Bank’ in GBA, making banking faster and better for our clients.
The rapid development of the GBA has deepened the financial cooperation within the Guangdong-Hong Kong-Macao GBA. The rising inbound and outbound trade and investment flows open up greater opportunities to expand the regional financial ecosystem.
As one of the first banks offering Wealth Management Connect services, our clients are able to leverage our global footprint and business expertise to fulfil cross-border banking needs. We are well-positioned to support the transformation needs of enterprises in supply chain and finance in coping with the challenge to support the “carbon peak” and “carbon neutrality” carbon targets in Mainland China and achieve a sustainable future.”
In light of the prevailing pandemic situation, a virtual conference was organised to mark the official opening. It was co-chaired by Anthony Lin, and Cheung Yup Fan, Chief Executive Officer, Standard Chartered Global Business Services (GBS) China and GBS Guangzhou.
For further information please contact:
Natalie Jim
Corporate Affairs
Standard Chartered Bank (Hong Kong) Limited
+852 3843 1916
Standard Chartered GBA Centre
Standard Chartered GBA Centre, which was invested by Standard Chartered Bank UK Limited and Standard Chartered Bank (Hong Kong) Limited in August 2020, is part of the Bank’s important strategic plan to develop the Guangdong-Hong Kong-Macao Greater Bay Area.
The GBA Centre is located in Guangzhou International Commerce Centre (ICC), occupying seven floors and housing multiple legal entities under Standard Chartered Group. Standard Chartered Global Business Services (Guangzhou) Co., Limited provides middle and back-office banking operations, technology and innovation services to support Standard Chartered Group’s business operations globally while Standard Chartered (Guangzhou) Business Management Co., Limited is responsible for property management.
Following the move of the Standard Chartered Guangzhou Branch into the GBA Centre in 2021, today marked the successful completion of the GBA Centre, which also featured the launch of its new axess labs, Standard Chartered’s first technology and innovation hub in Mainland China.
The Standard Chartered GBA Centre will support fintech innovation, cross-border teamwork, talent development, and explore new, progressive, development opportunities, jointly building a bright future for the GBA.