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StanChart to double Bangladesh retail biz

Standard Chartered Bank will double its business size of retail banking in Bangladesh within next five years. As part of the expansion plan, the bank will put emphasis on small and medium enterprises sector to help achieve maximum economic growth in Bangladesh, according to its regional head for retail banking in ASEAN and South Asia Sebastian Arcuri. The bank will extend financing in the SME sector that would help create employment opportunity across the country, he said. The bank will introduce a new online solution in Bangladesh for opening new account within five minutes by 2016. At present, it is providing such solution in South Korea. Accuri said the bank is proud to have the largest high-value segment customer base in the country, and several generations in the same family are banking with it.

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