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StanChart, East West in tie-up

Standard-Chartered-Standard Chartered Bank Philippines has tied up with East West Banking Corporation for retail business. Under the agreement, credit cards, personal loans, wealth management and retail deposits of StanChart in the Philippines will be migrated to EastWest.  EastWest and StanChart Philippines will work closely in the coming months to collaborate on a range of retail banking opportunities and to provide a seamless transition for the retail banking clients and staff to EastWest. Anirvan Ghosh Dastidar, CEO, StanChart Philippines, said the agreement is aligned with its global strategy to focus on retail markets where StanChart has scale. EastWest has been building scale and exploring growth opportunities. Antonio Moncupa Jr., president and CEO of EastWest, said that the bank continues to seek opportunities to grow, especially in the retail and consumer segments.

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