Standard
Chartered Bank first to open Afghanistan branch
Posted: 18 September 2003
Afghanistan government approval for first international
bank in Kabul
Standard Chartered Bank will be the first major international bank
to open a branch in the country, after receiving its banking licence
in Afghanistan. The Bank submitted documentation to the central
bank in Afghanistan in June.
Standard Chartered will open its first branch in Kabul, and intends
to offer commercial banking activities in Afghanistan. Initially,
it expects to offer a range of general banking services including:
deposit taking in US dollars and Afghanis; facilitating international
money transfers; and trade services on selected secured transactions.
David Edwards, Regional General Manager for the Bank’s operations
in the Middle East and South Asia, said: “Standard Chartered’s
strong global network and long history of valued partnerships in
this region are reflected in our growing business and investments.
We are well placed to help provide assistance for the efficient
flow of donor and aid funding, and for progressing rebuilding efforts
of both the economy and the country for the benefit of the Afghan
people.
“We are probably one of the best-qualified banks to meet
these needs and we are excited by the opportunity to play a role
in the reconstruction process.”
The Bank was quick to note its appreciation of the support it has
received, both abroad and through the local consulate teams in Kabul.
Following the ceremony conferring the licence upon the Bank, John
Janes, Standard Chartered’s country manager for Afghanistan,
appointed in early 2003, said, “This is a great opportunity
to partner the reconstruction process and serve our customers.
“We are most grateful to our Afghan colleagues for their
support, and we look forward to coordinating with them and opening
this branch as soon as possible.”
With more than 50 years’ presence in many countries across
the Middle East, the Bank has considerable experience in operating
in Middle Eastern markets. The MESA region contributed over 23%
of the Group’s total trading profit in 2002, and has continued
its strong performance through the first half of 2003.
The acquisition of ANZ Grindlays’ operations in 2000 gives
the Bank important additions to its branch network across the region,
and makes Standard Chartered one of the leading international banks
in the Middle East and South Asia.
Standard Chartered – leading the way in Asia, Africa
and ME
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, custody, 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.
Standard Chartered in the Middle East and South Asia
One of the leading international banks in the region, Standard
Chartered has a branch network of 76 branches in 10 countries. The
UAE is one of the Bank’s major markets, and Standard Chartered
has a commanding share of the market in its chosen market segments.
Overall, the Middle East and South Asia region contributed over
11% of the Group’s revenues in 2002, clearly demonstrating
the Bank’s strong network and expertise in the region
Posted by Richard Price,
Editor Pipeline Magazine
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