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StanChart on retail expansion drive, beefs up consumer banking

23-December-2004
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StanChart on retail expansion drive, beefs up consumer banking

Standard Chartered Bank has charted for itself an extensive retail expansion plan. The bank has increased its branch network adding eight new branches in eight days across eight cities, taking the total number of branches to 74 and city presence to 27, with three new in the league.

In addition, the bank has increased its ATM network by taking the total to 154. This expansion comes as a response to the growing needs of customers for industry-leading products and services and has helped provide maximum access and convenience to customers. Standard Chartered, an international banking Group in India, enjoys a combined customer base of 2.4 million in retail banking and over 1,200 corporate customers.

Chris Low, CEO, India Region, said, “Our decision to enhance retail distribution was in response to the growing needs of customers for industry leading products and services. India is a key growth market and our brand is well recognised and trusted. We will continue to make significant investments in expanding our franchise in the region”.

Murali M Natrajan, Head, Consumer Banking, India & Nepal, said, “The branch and ATM expansion has been the bank’s key agenda in Consumer Banking in 2004. We have entered several new cities and strengthened our presence in the metros by opening eight new branches and 55 ATMs this calendar year. Our aim is to continue to grow rapidly by providing value to our customers through reach, innovation and outstanding service. We believe this is possible because we have talented people, distribution, innovative products and strong brand loyalty.”

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