Standard Chartered

Standard Chartered Bank, listed on the London Stock Exchange in the FTSE 100, is a financial company from the UK, with headquarters in London and operations in many countries, especially in Asia and Africa. His main revenue the company generates is not in Britain but in Hong Kong, South Korea, India and other parts of Asia.

The Bank is one of the major banks, which by the Financial Stability Board (FSB) as " systemically important financial institution" ( systemically important financial institution) were classified. Therefore it is subject to special monitoring and stringent requirements on the level of equity.

History

The Standard Chartered Bank grew out of a merger in 1969 between the British overseas banks Standard Bank Ltd.. and the Chartered Bank of India, Australia and China.

The Standard Bank

The Standard Bank opened their business in Port Elizabeth, South Africa, in 1863. Between 1890 to 1910, the Bank opened branches companies across Africa, although some newly opened locations had difficulties and were then closed again.

In the 1950s, the Standard Bank had 600 locations in Africa. 1962, there was a separation of activities in Africa and Europe. The African unit continued to operate under the name Standard Bank of South Africa, while the European unit of Standard Bank Ltd.. been. The banking network grew further than 1965 with the former Bank of British West Africa merged, who worked in Nigeria, Ghana, Sierra Leone, Cameroon and Gambia.

The Chartered Bank

The Chartered Bank is the older bank that was founded in 1853 when the Royal Charter of Queen Victoria to James Wilson was issued. The first stores opened in 1858 in Calcutta and Bombay and then Shanghai. 1854 opened a branch of business in Hong Kong, and Singapore, an agency was opened. Chartered Bank opened stores across Asia between the years 1860-1900, and the first decade of the 20th century she became the first foreign bank licensed to do business in New York.

1957 Chartered Bank bought the Eastern Bank, which the Bank acquired a network of shops in Aden, Bahrain, Beirut, Cyprus, Qatar and United Arab Emirates.

History after the merger

In 1969 the amicable merger between Standard Bank and the Chartered Bank, Standard Chartered Bank PLC which arose. After the merger, Standard Chartered acquired the British group Hodge and Wallace Brothers Group. Stores were opened in Europe, Argentina, Canada, Panama, Nepal and the United States. Standard Chartered acquired three banks in the U.S., including the Union Bank of California, which provides access to Brazil and Venezuela succeeded.

In the late 1980s an attempt of hostile takeover by Lloyds Bank was verhindert.In the 1990 Standard Chartered to expand in other countries: Vietnam in 1990, Cambodia and Iran in 1992, Tanzania in 1993 and Myanmar in 1995 On August 15, 2005 Standard Chartered acquired Korea First. Bank, beating the takeover offer by HSBC. On 9 August 2006 Standard Chartered announced that it had purchased 81 per cent of Union Bank in Pakistan.

Presence

Standard Chartered is a leading banking group in third world countries: global in fifth place. The company employs more than 75,000 employees in over 1,700 branches in more than 70 countries. Standard Chartered Bank is one of three banks that issue banknotes for Hong Kong; the other two being the Bank of China ( Hong Kong) and the Hong Kong and Shanghai Banking Corporation (HSBC ). Standard Chartered sponsored marathons in cities such as London, Singapore, Dubai, Lahore, Bombay, Hong Kong and Mombasa. From July 2010, Standard Chartered Bank new shirt sponsor of English football club Liverpool FC will be going over 4 years and 91.4 million euro is worth. The end of 2007 took over Standard Chartered American Express Bank from American Express Co for $ 1.1 billion. The reason of the expansion request was called into the retail business and the acquisition of the EUR / YEN clearing. Standard Chartered expects thereby savings of $ 100 million annually from 2009.