Executive Summary
Standard Chartered, established in 1853, is a global financial services provider with a strong presence in Asia Pacific, Africa, Europe and the Americas. It provides Wholesale and Consumer banking services in over 70 countries, employing over 70,000 people. In 2008, the Group earned an operating income of $13,968m, an operating profit of $4,568m, and held assets worth $435bn in total.
The company’s aim is to be the best international bank for its customers, and to build a sustainable business over the long term, engendering worldwide trust and a reputation for high standards in areas such as corporate governance, social responsibility, environmental protection and employee diversity.
Company History
Since the mid – late 1800s, Standard Chartered (then the Chartered Bank of India, Australia and China) has been keen to capitalise on the expansion of trade and movement of goods between Europe, Asia and Africa, having opened branches in India and China as early as 1858. Some of the key historical milestones for the company are provided below.
- 1969: Standard Chartered Bank is formed through a merger of The Standard Bank of British South Africa (founded in 1863) and the Chartered Bank of India, Australia and China;
- Early 1990s onwards: the banks focuses on building strong franchises in Asia, Africa and the Middle East;
- 2000 onwards: Standard Chartered focuses on forming further strategic alliances and acquisitions to extend customer and geographic reach and to broaden the bank’s product range.
Current Events
Standard Chartered has recently acquired the following organisations:
- February 2009: completes acquisition of Casenove Asia
- December 2008: investment in UTI Securities (India) is increased to 74.9%
- December 2008: the ‘good bank’ portion of Asia Trust and Investment Corporation (Taiwan) is aquired
- November 2008: plans are announced to acquire Lehman Brothers team in Brazil.
Business Model
Standard Chartered's business model is based on development of key strategic alliances and acquisitions in international territories. It has a strong presence in Asia, the Middle East and Africa. The contribution of each country of operation to its total operating income is outlined below. [1]
|
Country / region |
Operating income ($m) |
% Contribution |
|
Hong Kong |
2,267 |
16.2% |
|
Korea |
1,576 |
11.3% |
|
Singapore |
1,426 |
10.2% |
|
Malaysia |
515 |
3.7% |
|
Other Asia Pacific |
2,438 | …
