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StanChart to focus more on retail in India

News Updates 8 June 2016_html_4d4ac84aStandard Chartered Bank is expected to hire at least 1000 people in 2016-17. This is part of the bank’s efforts to build up its retail lending segment and return to growth even as it cleans up the corporate debt book. According to Zarin Daruwala, chief executive of Standard Chartered Bank India, the bank’s retail portfolio in India is still very small and the bank wants to balance the wholesale-retail mix to at least 60-40. The bank is expected to engage staff with experience so that the bank can help build relationships quickly, launch new products and get new clients in areas like wealth management. India is the bank’s biggest market in South Asia with around 7,000 employees.

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