Standard Chartered Bank
Standard Chartered Bank is a foreign bank started banking business in Bangladesh in 1905. In course of time, Standard Chartered Bank observed its 100 years presence in this country in 2005. Standard Chartered Bank Plc is a British Bank registered under Royal Charter 1853 with its headquarter in London. Following the purchase of the Global Grindlays Business and merger with the branches of ANZ Grindlays Bank Limited in Bangladesh, it was renamed as Standard Chartered Grindlays Bank PLC on 1 August 2000. The Grindlays Bank Plc was registered in London on the 23 March 1866 as a multinational commercial and merchant banking company under the British Companies Act of 1862. It began operations in East Bengal under the name National Bank of India in 1905 with a branch at sadarghat, Dhaka and another one in Chittagong. An activity of the bank was remained suspended during the war of liberation. It resumed business in Bangladesh in a new name National and Grindlays Bank. The ANZ Group (Australia and New Zealand) bought the global banking business of Grindlays Bank Plc. in 1985 and the transfer of ownership has been completed in 1989, when the National and Grindlays Bank was further renamed as ANZ Grindlays Bank Plc.
Basic facts and economic indicators (in million Taka).
| Indicators | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 |
| Authorised capital | - | - | - | - | - | - |
| Paid up capital | 870 | 1807 | 1838 | 1829 | 1837 | 2014 |
| Reserved Fund | - | - | - | - | - | - |
| Deposits | 49334 | 57232 | 64433 | 73528 | 83028 | 92052 |
| (a) Call Deposits | 21982 | 27619 | 30443 | 36450 | 34719 | 41805 |
| (b) Term Deposits | 27352 | 29613 | 33990 | 37078 | 48309 | 50247 |
| Loans and Advance | 38648 | 41501 | 49486 | 59486 | 71152 | 75521 |
| Investment | 14313 | 16781 | 12712 | 12277 | 16410 | 20860 |
| Total Asset | 66393 | 74002 | 81512 | 96932 | 109103 | 123950 |
| Total income | 5519 | 6478 | 8400 | 9614 | 11016 | 11890 |
| Total Expenditure | 1490 | 1987 | 2298 | 2746 | 3322 | 3439 |
| Foreign Currency Trading | 184236 | 183436 | 213574 | 270143 | 259268 | 20586 |
| a) Export | 58328 | 40280 | 62311 | 77589 | 43897 | 58850 |
| b) Import | 46941 | 56612 | 43547 | 44710 | 57687 | 18930 |
| c) Remittance | 78967 | 86544 | 107716 | 147844 | 157684 | 128206 |
| Total Manpower: | 628 | 741 | 932 | 1020 | 1127 | 1078 |
| a) Officers | 622 | 735 | 927 | 1015 | 1122 | 1073 |
| b) Staff | 6 | 6 | 5 | 5 | 5 | 5 |
| Correspondents Banks | - | - | - | - | - | - |
| Total Branches (in numbers) | - | 1299 | 1427 | 1428 | 1777 | 1727 |
| a) Domestic | 18 | 25 | 26 | 27 | 27 | 27 |
| b) Overseas | - | 1274 | 1401 | 1401 | 1750 | 1700 |
| Agriculture Credit: | ||||||
| Loan Disbursed | 364 | 618 | 186 | 84 | 635 | 818 |
| Realised | 245 | 280 | 366 | 180 | 178 | 147 |
| Industrial Credit: | ||||||
| Loan Disbursed | 12489 | 10484 | 8732 | 9124 | 8888 | 10021 |
| Realsied | 9646 | 10060 | 9732 | 7554 | 7995 | 8134 |
| Loan Outstanding by Sector | ||||||
| Agriculture and Fisheries | 109 | 542 | 363 | 268 | 528 | 1126 |
| Industry | 4449 | 18259 | 20066 | 21415 | 29295 | 28851 |
| Trade and Commerce | 2540 | 4028 | 3357 | 3282 | 2171 | 6104 |
| Poverty Reduction | - | - | - | - | - | - |
Source Government of Bangladesh, Ministry of Finance, Banking and Financial Institution Division, Bank o Arthik Prothisthan Samuher Karjaboli [Annual Report on Banks and Financial Institutions], 2004-05 to 2009-10.
By 31 December 2002 the process of amalgamation of Grindlays and Standard Chartered banks were completed. Standard Chartered also acquired the commercial banking activities of American Express Bank in Bangladesh in October of 2005. The Standard Chartered Bank is now providing its more than three hundred thousands customers with personal, corporate, treasury and other banking related services. Standard Chartered Bank has got a broad-based banking network in Bangladesh. It has got 27 branches and booths as well as 50 ATM Centres in Dhaka, Chittagong, Khulna, Sylhet, Narayanganj and Bogra.
Standard Chartered Bank has a reputation in launching new banking services and providing new products. In Bangladesh Standard Chartered Bank first introduced ATM, Credit Card, Auto Loan, business financial services and other banking facilities. For the first time it started providing offshore banking facilities inside Dhaka Export Processing Zones (DEPZ) in Savar. For the customers Standard Chartered Bank is offering facilities like 24 hours call center, Internet banking, Bills pay center, E-statements, SMS banking, evening and Saturday banking. Standard Chartered Bank has embarked upon Islamic and SME banking services in 2004. In 2007 Standard Chartered Bank has introduced Islamic Banking farcicalities under a separate window named Sadiq, where banking services are provided in accordance with full shariah system, for example, Sadiq Auto Loan, Sadiq Credit Card, Sadiq Personal Finance, and Sadiq Account.
Standard Chartered Bank in Bangladesh is deeply involved in various cultural and corporate social responsibility affairs other than traditional banking functions. The Bank sponsors the arrangement of National School Cricket, Nation School Chess Tournament, National School kabadi and participation in the International Marathon Competition. It has supported profoundly the establishment of Young Learners Corner in the British Council and in the fund raising activities of Islamia Eye Hospital and Child hospital. Standard Chartered Bank is also helping fund raising for the Seeing is Believing programme. Under this new project US$ 20 million fund will be created for the coordinated eye care and treatment of 20 million populations in the city of 20 low-income countries. Within the ambit of this program Rahim Afroz Bangladesh and Vialatex Group have been awarded the third Financial Express Standard Chartered Corporate Social Responsibility Award. Moreover, It also arranges a nation wide film, photography and lyrics composition competition with the partnership of a national newspaper. [Muhammad Abdul Mazid]
