Business

Standard Chartered: Bank to double business in Pakistan

Standard Chartered is one of the major and longest-operating banks in Pakistan

Our Correspondent February 08, 2016

PHOTO: REUTERS

KARACHI:

Standard Chartered Bank Pakistan is going to ‘double business’ in the country, said a press release on Monday.

Standard Chartered is one of the major and longest-operating banks in Pakistan. It posted a net profit of Rs7.5 billion in the first nine months of 2015, which was 1.3% higher than the earnings recorded in the same period of previous year.

The statement said Bill Winters, who serves as StanChart’s Group Chief Executive, had recently met Prime Minister Nawaz Sharif and his delegation in Davos, Switzerland. “They discussed the bank’s commitment to Pakistan and its leading role in economic development of the country.”

Winters said StanChart had an overwhelmingly positive view of Pakistan’s economy where investment and capital continued to grow.

“Pakistan was one of the biggest conduits for overseas capital… the bank was looking to double its business in the country,” the statement quoted Winters as saying.

Published in The Express Tribune, February 9^th, 2016.

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COMMENTS (3)

Asjad Jamshed | 8 years ago | Reply @Azhar: Bro could you kindly tell me what bad experiences have you had with SCB? it's just that I'm curious to know coz I've been their customer for years and I can confidently say that they have the best Online Banking services Pakistan have ever seen. I also have been a user of other local Pakistani banks but I'm compelled to say that they are really disappointing sometimes, specially the so-called best bank of Pakistan that is MCB.

xscbian | 8 years ago | Reply How is it possible to double business , SCB is already redusing its network & closed about 60 branches in just 02 years & the closing of branches goes on .............

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