Euromoney has awarded Standard Chartered Bank as the prestigious "Best Bank in Pakistan" under the "Awards for Excellence 2010". The award was received at a ceremony held in Hong Kong on July 15, 2010. The Standard Chartered Bank was also named as "Best Regional Bank (Asia)" - reflecting Standard Chartered's position as an Asian banking powerhouse with deep heritage, sound financial profile and established franchise in the region.
For Standard Chartered Pakistan, this award cements its position as one of the leading banks in the country, a press release issued here Thursday said. The bank has developed its franchise to the point where it is now a top local player. Its journey of transformation in Pakistan has seen it grow from 115 branches and 22 cities in January 2007 to 162 branches in 41 cities of the country in 2010, employing more than 4000 people.
To a strong consumer and wholesale banking franchise has been added a robust derivatives business - Standard Chartered has become a domestic leader in both. In addition, Standard Chartered was the first international bank in Pakistan to receive an Islamic Banking license and to open Islamic Banking branches across the country.
Standard Chartered Pakistan has impressed local competition through its ability to launch innovative products. The Bank is now a local powerhouse in the making. Commenting on this achievement, Badar Kazmi, Chief Executive, Standard Chartered Pakistan said, "We are delighted to have won this level of international recognition for our banking services and operations. It acknowledges the quality and dedication of our staff and our commitment to our customers.-PR