Standard Chartered Focuses on Digital Growth and Strategic Expansion

Standard Chartered, the largest foreign bank by physical presence in India, announced it will not increase its branch network beyond the current 100, instead prioritizing digital service enhancements. PD Singh, Chief Executive for India and South Asia, revealed these strategies in a recent briefing.

Singh highlighted the bank's strategy to initiate dollar clearing operations in GIFT City from October 7. He stated the bank is consolidating its footprint by establishing large-format branches where needed, as seen in recent expansions in Kolkata and Chennai.

The bank is aiming to grow its corporate loan portfolio by 10% by FY26 and is eyeing strategic growth areas, including infrastructure financing and wealth management. Additionally, Singh emphasized the importance of the 'Global Indian' segment and digital advancements in meeting modern banking needs.

(With inputs from agencies.)