Facts about Standard Chartered Bank you need to know

Standard Chartered Bank
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In the world of banking and corporate business, there exist quite a few entities that rules the roost when it comes to being the premier institution in world credit affairs. Standard Chartered Bank is one such premier institution that is known the world over for particularly its almost half a century old presence in the money realm.

Formed in 1969 through the merger of two separate banks-  the Standard bank of British South Africa and the Chartered bank of India, Australia and China, the Standard Chartered bank planned to materialise its purpose through the expansion of trade between Europe, Asia and Africa.

Standard Chartered Bank
Source: Gambarsurat

Chartered Bank was founded by James Wilson, the Scottish economist who was instrumental in introducing the system of income tax in India. The grant of a royal charter by Queen Victoria saw the setting up of the Chartered Bank in 1853. Over the next decade, the bank traded in cotton from Mumbai, indigo and tea from Kolkata, rice from Burma, sugar from Java, tobacco from Sumatra, hemp from Manila and silk from Yokohama.

While John Paterson founded the Standard Bank in the Cape province of South Africa in 1862 and helped finance the development of the Kimberley diamond fields.

With a history of over 150 years in banking, Standard Chartered operates in many of the world’s fastest growing markets and has a network of interconnected institutions serving to maintain its hold in the world business and markets.

From an institution as historic as the Standard Chartered Bank, you would most probably mean and expect just business. However, even in its history, the premier bank does have a balance sheet of facts to bank on!

STANDARD CHARTERED BANK BUILDING

Standard Chartered Bank
Source: iStock

The bank has its own skyscraper in Hong Kong! With a height of 185 meters covering 42 floors, the building houses  the operations of the bank as well as the SCB Hong Kong headquarters.

SKEWED ORIGINS

Most people somehow believe SCB to be a bank of Indian origin! And while that is as strange as it sounds, this sure remains perplexing as well, as neither the name nor any other link can report the bank to be purportedly Indian. Apart from the fact that the founder was an English economist who was particularly instrumental in introducing a slew of economic practices in the country during the colonial era.

STANDARD CHARTERED BANK RACE

Standard Chartered Bank
Source: TODAYonline

With SCB sponsoring the annual international marathon race in Singapore, it’s no wonder that the race is immensely popular and is known by the name of Marathon Singapore. Investments can be fun at times, it seems!

STANDARD CHARTERED PROFITS

With no retail banking facilities provided in the UK, SCB has to rely on operations in other nations to rake in the moolah. Strange that, given the bank’s country of origin plays no major role whatsoever in its prosperity.

THE GLOBAL BANK

Though not anyhow connected to the World Bank, Standard Chartered still enjoys reputation as one of the world’s most ‘international’ banks. With almost 60000 people from over 100 nationalities as employees within its fold, SCB is indeed a true propagator of diversity and inclusive growth.

THE GLOBAL PRESENCE

Standard Chartered Bank
Source: Brand Synario

In addition, the bank has an extensive global network of over 1,400 branches (including subsidiaries, associates and joint ventures) in over 50 countries in the Asia-Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas.

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