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Standard Chartered bank |
| Standard Chartered bank is a leading brand in Asia and Africa particularly. Although it is a British bank, its presence in Europe and specifically the UK is nothing compared to the status it has achieved in the various Asian markets. The Standard Chartered Bank originated in the year 1969 with the merger of the 2 banks - The Chartered Bank of India, Australia and China and The Standard Bank of British South Africa. However, the origination of the 2 banks individually dates back to many years prior to 1969. |
History of the Standard Chartered Bank:
The history of the Chartered Bank dates back to 1853 and the Standard Bank was set up in 1862. Both the banks were established brands in the areas of origins namely Asia and Africa respectively. They had been involved in the various aspects of providing financial solutions until the Second World War. With the World War II, things changed radically for the two banks and losses in terms of closure of branches, failed policies etc prompted the two banks to merge into one and jointly fight back the to regain its lost stature.
Before the banks merged into 1 becoming the Standard Chartered Bank, each had acquired other banks and expanded their business to other parts of their areas of origins.
After the merger in 1969, Standard Chartered Bank developed plans and strategies to develop its Asian and African markets by using its resources from the UK and North America. It also renewed its strategies on consumer, institutional and corporate banking.
After 2000, the bank has grown rapidly by acquiring numerous other financial institutions from all over the world and entered into mergers with various others. Grindlays Bank, Korea First Bank and Union Bank of Pakistan area few to name in the order that had either been completely acquired by the Standard Chartered Bank or acquired stakes in them.
With a steady growth in the developing countries particularly, the bank is definitely one of the renowned names in banking, financial solutions, wealth and asset management etc.
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