Standard Chartered in Turkey
Standard Chartered Bank entered the Turkish market by opening a Representative Office in December 2003. In November 2012, the Bank upgraded its presence and became a subsidiary following the acquisition of Credit Agricole Yatırım Bankası Türk A.Ş.
The key to Standard Chartered Bank's core strategy is its ability to meet the cross-border needs of its client network across Asia, Africa and the Middle East. Trade with the Standard Chartered footprint markets accounts for around 16% of Turkey's total trade and links are growing – between 2004 and 2010 Turkey's total trade with the Bank's footprint grew at a compound annual growth rate of around 15%.
In this respect, Turkey represents a crucial location to connect the Bank's clients across the global franchise; not only for those who would like to invest in or trade with Turkish corporates, but also for the Turkish corporates and financial institutions who would like to invest in or trade with Asia, Africa and the Middle East.
Standard Chartered in Europe
Standard Chartered's Europe region spans 14 markets, from the Falkland Islands in the West to Russia and Turkey in the East. Approximately 2,200 people are employed in the region, representing 76 nationalities.
Europe is increasingly important in the delivery of the Bank's strategy which focuses on Asia, Africa and the Middle East. Standard Chartered aims to be the bank of choice for clients with existing business, or seeking to do business with these regions.
London is the main centre in Europe for Corporate & Institutional Banking Origination and Client Coverage, and a centre of expertise for the major Corporate & Institutional Banking product groups: Financial Markets, Transaction Banking and Corporate Finance. Frankfurt is the next largest operation, which is home to the Bank's Euro clearing and a global Transaction Banking product support group.
The European Retail Banking business is dominated by the Private Bank, with booking centres in London, Jersey and Geneva. The Private Bank provides banking and investment services to high net worth clients, especially those based in or with links to Asia, Africa and the Middle East. Guernsey provides trust and fiduciary services.
Retail services are available in the Falkland Islands as well as in Germany.