THE BANGLADESH

Details & Description

Standard Chartered Bank opened its first branch in Bangladesh in 1948, in Chattogram – the nation’s port city and a major trading hub. With the acquisition of Grindlays Bank in August 2000, we inherited a presence in Bangladesh that dates all the way back to 1905. We also acquired American Express Bank’s commercial banking business in 2006. Today, we are the only multinational universal bank serving the nation. For as long as we have been around, we have been proud to be a partner in progress to Bangladesh.

At a Glance

Standard Chartered is the only multinational universal Bank in Bangladesh, with over 117 years of uninterrupted presence in the nation.Our first branch opened in Chattogram in 1905. Today, we have 13 branches nationwide that cater to key economic centres. We are proud to say that our banking presence is the most extensive when compared to other foreign financial institutions operating in the market.As the longest-established bank  in the country, we have earned the distinction of being an innovator in the market with many firsts. As the first international bank to extend credit lines to independent Bangladesh; open the first external letter of credit (LC) in 1972; introduce the first ATM; launch the first debit card, credit card, international debit card and Shariah-compliant credit card; inaugurate the first 24-hour contact centre; launch the first state-of-the-art Online Banking Platform; and facilitate the first cross border acquisition. We also acted as a co-advisor to Bangladesh Bank to help the country achieve its first ever sovereign credit rating, when we worked with S&P.In 2021, we took major steps towards boosting sustainability through the introduction of the market’s first carbon neutral SMART Card; the issuing of the first green bond and the first green zero-coupon bond; and by pioneering the country’s first ever sustainable trade finance transaction. We also launched a vendor pre-pay platform; highlighted Bangladesh as a lucrative destination for investment and lending; digitised export LC advising, and generally worked to make ourselves future fit through innovation in the digital sphere.Standard Chartered Saadiq is the only international Islamic banking proposition in Bangladesh for both retail and corporate clients.We have retained our AAA credit rating for the last 15 years.We have been recognised as the largest taxpayer in the Banking Sector by the Government multiple times over the years.

Sustainability and Community Engagement

We believe it is possible to drive commerce and growth without leaving people behind, negatively impacting the planet, or creating divisions that diminish our sense of community. As we work together towards achieving our shared sustainability aspirations, our ambition is to empower the next generation to learn, earn and grow through community programmes centred on education, employability, and entrepreneurship.

Our community initiatives over the years have focused on economic empowerment of marginalised communities; bridging the gender gap; improving access to health, education, and financial literacy; supporting agricultural innovation; promoting sports, arts, and culture as drivers of positive social transformation; and raising awareness about climate change and the environment.

The world today is grappling with challenges that are unprecedented ­– both in terms of scope and scale. To deal with immediate challenges brought on by the pandemic, we are working with development sector partners to deliver aid and essentials to hard-hit communities and to support frontline health services. To enable longer-term recovery, the Bank is focused on empowering communities via education, skills development, workforce reintegration, health interventions, and digital innovation.

Other ongoing projects include:

Standard Chartered Bangladesh and Friendship recently inaugurated a comprehensive environmental project for 750 residents of Ghughumari Char, a remote sedimentary island in Kurigram. Under the framework of this project, the previously off-grid island will be supported with a 54-kilowatt solar micro-grid, 60 tube wells, and a tree plantation initiative for 450 saplings.The Standard Chartered Agrow Award recognizes the leaders and innovators that are moving our agriculture industry forward, with the goal of promoting the dissemination of technology and best practises at all levels of the industry. 2022 marked the seventh edition of Agrow Award and our third year partnering with Channel i – Bangladesh’s leading TV channel. Our partnership with Channel i allows us to reach a broader segment of our target audience – both in urban and rural settings. To date, there have been 54 award winners.Standard Chartered promotes the development of Bangladeshi youths through scholarship grants and institutional support. Our ‘Governor Scholarship’ fund, in partnership with the Dhaka University Economics Department Alumni Association (DUEDAA) is a need-based award that provides yearly scholarships to students of the Department of Economics and the Department of Development Studies, who have proven their academic mettle. To date, through this programme, the Bank has overseen the disbursement of 812 scholarships.Standard Chartered supports skills training with job placement and entrepreneurship support for ultra-poor urban youth in partnership with the Sajida Foundation. The Bank is supporting 200 beneficiaries with entrepreneurship support and 100 beneficiaries with skills development training under this programme.

Some of our community interventions fall under our Futuremakers initiative. Futuremakers by Standard Chartered is our global initiative to tackle inequality. Futuremakers programmes are delivered by NGOs, not-for-profit and charity partners, including the Standard Chartered Foundation (SCF), around the world.

Futuremakers projects include reskilling and reintegration programmes with BRAC and UCEP.Sightsavers and the Bangladesh Business and Disability Network (BBDN) recently launched a project under the Futuremakers by Standard Chartered initiative to provide youth with disabilities with employability training, career guidance, and job placement support.Standard Chartered Bangladesh recently contributed to funding the icddr,b Nutrition Rehabilitation Unit (NRU). This will provide 20 severely malnourished children with much needed care. As part of the initiative, mothers and caretakers will receive essential nutrition related education that will promote healthy habits and community development.Standard Chartered Bangladesh also works with Population Services And Training Center (PSTC) to power Goal – an education programme launched by the Bank – which combines sports with life-skills training to provide  girls with the confidence, knowledge, and skills they need to be become economic leaders in their families and communities.

Email: customer.enquiries@sc.com

Swift code: SCBLBDDX