Standard Chartered first opened for business in Singapore in 1859 and today operates the largest branch network (20) among international banks in the Republic. The Group is also unique among the foreign banks in running all its global businesses -- including much of the Group's product development and training activities -- from Singapore.
Standard Chartered was among the first four foreign banks in Singapore to have been awarded a Qualifying Full Bank (QFB) licence in October 1999, a strong endorsement of the Bank's long term commitment and the important role it has played in the country's economic development.
Review of Operations
The Bank has a network of 20 branches and employs more than 2,000 people in Singapore. It provides the full range of Consumer Banking, Corporate and Institutional Banking and Global Markets products and services.
Consumer Banking
* Provides the full range of retail banking products and support services to more than 300,000 customers, including retail, corporate and small business customers.
* A significant player in the consumer banking business with strong market shares for mortgages, credit cards and personal finance.
* Largest independent distributor of unit trusts in Singapore, offering more than 120 funds from local and international fund managers.
* As the Group's second largest consumer banking market, Singapore is frequently used as a launch site for new products, services and delivery channels.
Corporate & Institutional Banking
* A leading trade specialist bank in Singapore and also provides a comprehensive range of cash management services including both local and international payment, collection and account services, and enhanced information and liquidity management.
* Largest custodian bank in Singapore for foreign institutions, rated top for the past seven years in Global Custodian's Agent Bank Survey.
* Major banker to the local stockbroking industry.
Global Markets
* The Singapore dealing room - with 120 dealer positions - is one of the largest and most modern in Asia.
* With the award of the primary dealership licence in December 1998, the Bank is already a major trader in Singapore Government Securities.
* First in Asia to launch an extranet-based dealing system, On-Line Treasury.
* Recipient of the Approved Bond Intermediary licence and is poised to play a role in the growing bond market in Singapore.
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