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Standard Chartered in Pakistan enjoys a unique position as the oldest and largest international bank in the country, with a presence in this region of over 150 years.
"Standard Chartered is proud to contribute towards the development of Pakistan's economy. Our commitment to this country is absolute.
With a presence of over 150 years in the industry, we are able to fully leverage our international capabilities and product expertise. Our deep local knowledge and understanding are important enablers in the provision of sophisticated solutions to our customers." Badar Kazmi, Chief Executive Pakistan, Standard Chartered.
In Pakistan, Standard Chartered has a network comprising twenty branches and twenty-nine automated teller machines (ATMs) of which six are situated at offsite locations.
Present in all the major cities of Pakistan, Standard Chartered is a leader in credit cards and personal loans, Standard Chartered is also the leading provider of cash management, trade finance, and treasury products and services in Pakistan.
Standard Chartered has been providing banking services in this region for over 150 years, with an annual turn over of PKR 4.51 Billion. The bank's return on equity for the past 3 years is as follows:
2001: 15.02%
2002: 17.08%
2003: 26.50%
Focusing on both Consumer and Wholesale banking customers, the bank employs 600 people locally across 8 cities.
CONSUMER BANKING: Consumer Banking provides credit cards, personal and auto loans, deposit taking, wealth management and 24 hour phone banking services to individuals and small/medium sized businesses.
WHOLESALE BANKING: Wholesale Banking comprises two areas: Client Relationships and Global Markets.
Client Relationships provides trade finance, cash management and lending services whereas, Global Markets provides foreign exchange, debt capital markets services and financial risk management and interest rate management products.
The bank also provides Islamic financing and leasing facilities through the Bank's Modaraba. Standard Chartered Modaraba enjoys the highest rating assigned to any Modaraba in Pakistan, A2, by Pakistan Credit Rating Agency (PACRA) indicating outstanding financial condition with a consistent record of above average performance.
During 2003, the bank experienced major expansions, some of which are:
-- Launch of Standard Chartered PIA Co-brand cards. Card members are now able to enjoy both, the excellent services and privileges of Standard Chartered Visa card as well as a wide array of travel privileges and benefits from the PIA's frequent flyer program called the Awards+ Plus. This new product is available to both existing and new card members.
-- Standard Chartered Bank re-vamped its Clifton Branch in Karachi, which reflects SCB's, latest "Financial Spa" concept.
-- Launch of Iqra - Standard Chartered's First Bancassurance initiative was launched in May.
-- Launch of Easy Credit. Easy Credit is a credit card with the convenience of cheque book.
-- An agreement was signed between Standard Chartered and Union Bank to facilitate all customers to pay their utility and mobile phone bills through SCB's bill pay centers.
-- Sui Southern Gas Company Limited (SSGC) awarded stub collection and data processing mandate to Standard Chartered for covering Sindh and Balochistan.
Standard Chartered employs 30,000 people in over 500 locations in more than 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas.
It is one of the world's most international banks, with a management team comprising 70 nationalities.
Standard Chartered is listed on both the London Stock Exchange and the Stock Exchange of Hong Kong and is in the top 25 FTSE-100 companies, by market capitalisation.
It serves both Consumer and Wholesale Banking customers. Consumer Banking provides credit cards, personal loans, mortgages, deposit taking and wealth management services to individuals and small to medium sized enterprises.
Wholesale Banking provides corporate and institutional clients with services in trade finance, cash management, lending, securities services, foreign exchange, debt capital markets and corporate finance.
Standard Chartered is well-established in growth markets and aims to be the right partner for its customers. The Bank combines deep local knowledge with global capability.
The Bank is trusted across its network for its standard of governance and its commitment to making a difference in the communities in which it operates.

Copyright Business Recorder, 2004

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