StanChart to grow corporate client base

Reported by: |Updated: November 9, 2016

image008Standard Chartered Bank said it is planning to grow its corporate client base in India by 10%. Sanjeev Paul, regional head, Commercial Banking, said India remains a key market for the bank and it is making sure there is far more stringent due-diligence when it books new clients. There have been problems in the past and it takes time to come out of it. The positive thing is that the steps taken in the past 12-18 months are beginning to take shape in terms of numbers, he added. He said within the commercial banking business, the focus area is the midsize corporate segment, of annual turnover between Rs 70 crore and Rs 300 crore. The bank also has the middle market segment of companies with turnover between Rs 335 crore and Rs 1,340 crore. Its third segment comprises the large local corporates, where the turnover goes up to Rs 10,000 crore.