SCB

Standard Chartered Bank

[Name of the institute]Standard Chartered Bank

Introduction

Standard Chartered Bank formed in 1969, when two banks merged together i.e. The Standard Bank of British South Africa and the Chartered Bank of India, Australia and China (SCB Annual Report, 2010. pp. 03). Both companies had a common goal i.e. to capitalize on huge expansion of trade and to earn decent profit. In early 1990s, Standard Chartered focused on spreading its business in Asia, Africa and the Middle East. Their prime targets were consumers, corporate and institutional banks. They were keen in expanding their business, so they were able to achieve several targets since 2000. Standard Chartered group is one of the leading multinational companies which consecutively show the increased profit percentage. It is the fastest growing company in the world. It has a strong capital base, liquidity and customer relation, which helps in rapid growth. In year 2010, income increased six percent to $16.1 billion. The same year profit increased by 19 per cent to $6.12 billion, and normalized earnings per share rose by 14 per cent to 197 .0 cents (SCB, 2010, pp.4).

Standard Chartered Global Operations

Standard Chartered Bank throughout the world follows the same operation which is discussed below.

Cash Management

Standard Chartered Bank provides payment solutions that include; local and foreign payments, collections and liquidity facility.

Client Service Group

Standard Chartered Bank provides the front line customer service to its clients throughout the world. This is for the wholesale bank of SCB. Its main aim is to make service a key identity for the Bank with clients. Anyone that directly participates in the business growth mostly handled by these front line officers, which provides them the best possible service.

Consumer Banking Operations

It supports the transaction processing of the entire consumer banking. For corporate consumers, it supports the accounts set-up and maintenance.

Global Financial Market Operations

It supports the financial market products and services which includes asset and liabilities management. Fixed income, equities, capital markets, etc. are all supported by global financial market operations.

Securities Services

It functions as guardian for diverse geographical mix of clients investing in different asset classes, foreign exchange and corporate transactions.

Standard Chartered in United Kingdom

History of Standard Chartered in United Kingdom is of over 150 years. It is headquarter is in London. London Stock Exchange has the name of Standard Chartered Bank as a listed company since 1969, and currently it is among the top five largest banks. It has its branches in different cities, and it is a multinational business, that is, its business is all around the world.

Products and Services

Standard Chartered Bank divided into two main sectors i.e. wholesale banking and consumer banking. These products and services provided according to the requirement of its customers. In some companies, Standard Chartered Bank provides more services and products, then London. It is not because of the limited resources, but it is due to the requirement of its customers, and the environmental acceptability. Let us go through them briefly.

Wholesale Banking

London is a key hub for Standard Chartered's Wholesale Banking business as it is the global financial centre. Wholesale Banking provides different services, to its targeted ...