Standard Chartered Singapore

Did you know?

  • Although Standard Chartered is a bank based/headquartered in London, it does not have any branches in the UK.
  • Standard Chartered has been the official sponsor for Liverpool FC since 2010 and have their brand featured on the red shirts. This partnership is also used for raising awareness and funds towards charitable causes.

Standard Chartered’s Founding Story

Chartered Bank was founded as a result of a royal charter grant issued by Queen Victoria in the year 1853. James Wilson founded this bank after which branches were opened in Kolkata, Mumbai, Hong Kong, Shanghai, and Singapore over the next 10 years.

The bank traded tea and indigo from Kolkata, cotton from Mumbai, sugar from Java, rice from Burma, tobacco from Sumatra, silk from Yokohama, and hemp from Manila.

In the year 1862, Standard Bank was established in South Africa’s Cape Province. After starting its business in Port Elizabeth, from 1867 onwards, the bank also aided in developing Kimberley diamond fields and further expanded north to Johannesburg.

In 1969, the two banks were merged to form Standard Chartered.

History of Standard Chartered in Singapore

Standard Chartered Bank has a history of 159 years in Singapore. The first branch was opened in 1859. In 1999, Standard Chartered Bank got the Qualifying Full Bank licence and was among the first few international banks on this city-state to receive this accreditation.

The Singapore Retail & SME businesses were transferred to a locally-incorporated subsidiary in 2013 which is known as Standard Chartered Bank (Singapore) Limited ("SCBSL"). SCBSL today, is one of the top-rated banks in the world. Fitch Ratings and Standard & Poor’s awarded the bank with an “A” rating, and Moody’s Investor Services awarded it with an “Aa3” rating.

The bank’s network constitutes 9,000 employees, 15 branches, 31 ATMs, and 5 Priority Banking centres.

Global Footprints

Standard Chartered operates in more than 60 countries across the globe with an employee base of over 86,000. The bank is listed on the London Stock Exchange, Hong Kong Stock Exchange, Bombay and National Stock Exchanges in India. Standard Chartered has a strong presence across Asia, the Middle East and Africa.

It has over a 150-year history in some of the largest markets in the world with 1,026 branches globally. It has secured the second position on Asia’s largest stock exchanges and is also among the top 100 largest companies on the London Stock Exchange.

Performance of Standard Chartered in Singapore

Here’s a snapshot of the bank’s performance in 2017 across ASEAN and Southeast Asia:

  • Profit made before taxation: $492 million on an underlying basis and $350 million on a statutory basis.
  • Risk-weighted assets: $97 billion.
  • Income split by key markets: 37% (Singapore), 26% (India) and 37% (others). Singapore and India have, thus, become the two largest markets in the region for the bank.

Standard Chartered is the the only international bank to have have presence in all 10 of the ASEAN countries. ASEAN and South Africa contribute to more than 25% of the Group’s Income.

Standard Chartered’s Product Portfolio in Singapore

  • Insurance
    • Allianz Hospital Income Protect
    • Allianz Travel Protect underwritten by Allianz
    • Allianz Accident Protect
    • Allianz Home Protect
    • Health Insurance
      • PRUmultiple Crisis Cover
      • PRUshield Health Insurance
      • PRUshield Extra Health Insurance
    • Insurance Savings Plan
      • PRUadvance Saver
      • PRUflexicash
      • PRUsave Limited Pay
      • PRUwealth Insurance Savings Plan
    • Children’s Education
    • Retirement
      • PRUadvance Saver
      • PRUflexicash
      • PRUsave Limited Pay
      • PRUwealth Insurance Savings Plan
    • Mortgage Protection
      • PRUMortgage
    • Motor
      • Ultimate Car Protector
    • Legacy
      • PRULife Vantage Achiever
    • Other Solutions
      • CreditSafe
  • Accounts and Deposits
    • MyWay Programme
    • Bonus$aver
    • Singapore Dollar Time Deposit
    • e$aver
    • e$aver Kids
    • FCY$aver
    • Foreign Currency Time Deposits
    • SuperSalary
    • USD High Account
    • XtraSaver
    • Basic Bank Account
    • Cheque and Save Account
  • Credit Cards
    • Rewards+ Credit Card
    • Unlimited Cashback Credit Card
    • Spree Credit Card
    • Visa Infinite Credit Card
    • Platinum Visa/Mastercard Credit Card
    • Prudential Platinum Card
    • PruPrestige Visa Signature Card
    • NUS Alumni Platinum Card
    • Business Platinum Card
    • Priority Visa Infinite Credit Card
    • MANHATTAN Platinum/World Mastercard
    • MANHATTAN $500 Card
  • Loans & Mortgages
    • MortgageOne
    • Home Suite
    • HDB Home Suite
    • HDB Bridging Loan
    • Commercial and Industrial Property Loans
    • Auto Financing
    • CashOne Personal Loan
    • Debt Consolidation Plan
  • Investment
    • Unit Trusts
    • Premium Currency Investments
    • Wealth Lending
    • Structured Deposits
    • Online Unit Trusts
    • Online Trading


Standard Chartered Bank in Singapore has won many awards, few of which are listed below:

  • Retail Banker International Asia Trailblazer in Consumer Banking category in 2018. Here are a few of the awards won:
    • Highly Commended Best Loan Offering for Business Banking Business Working Capital.
    • Highly Commended Excellence in Internet Banking – Overall for Business Banking Straight2Bank NextGen.
  • Singapore Quality Class awarded the bank with Singapore Quality Class certification with Innovation and Service Niche, under the Consumer Banking category, in 2017.
  • Retail Banking International (RBI) Asia Trailblazer award for Asia Trailblazer of the Year (Individual) Best Card Offering (Visa Infinite Credit Card), under the Consumer Banking category in 2017.
  • World Finance Awards under Consumer Banking category in 2016, for Best Digital and Mobile Banking in Singapore.

Social Responsibility and Sustainability Initiatives

'Friend-a-Senior' Programme:

To provide support to Singapore’s ageing population, Standard Chartered committed to funding S$240,000 over a span of 3 years starting 2017. The funding will be provided to the South East Community Development Council’s Friend-a-Senior programme. This amount will be utilised to equip the training requirements for 750 volunteers. The volunteers will then be partnered with more than 450 vulnerable seniors.

Standard Chartered’s continuing commitment to ‘Silver Lining’:

Apart from the  Friend-a-Senior programme, the bank continuously encourages its employees to participate in projects to assist the senior citizens of the city-state. In lieu of this, over the past 5 years, 5,000 of its employees have partaken in projects for home refurbishments, exercise sessions, and befriending sessions, that has helped more than 8,000 seniors.

Standard Chartered in the News

Standard Chartered Launches Priority Private for High-Net-Worth Individuals

The bank rolled out a new banking proposition for High-Net-Worth Individuals. with assets under management (AUM) of S$1.5 million or above. Priority Private Clients can get extended services such as accelerated approvals for overdrafts and loans, extended range of investment opportunities, wealth solutions, and preferential pricing & rewards for investments and insurance. They can also enjoy other benefits in categories like lifestyle, travel, and dining.

20 June 2018

Patrick Lee Appointed as the New CEO of the SC Singapore Franchise

On 9 July 2018, the bank announced the appointment of Patrick Lee as Chief Executive Officer (CEO) for Standard Chartered Bank Singapore. Patrick Lee has 25 years of banking industry experience which includes corporate and investment banking. He has worked in Hong Kong, London, and Singapore. He had joined Standard Chartered Bank Singapore in 2012 as the Head of Global Banking - Singapore and will continue to fulfil the responsibilities of this position until this position is filled. As the CEO, he will be responsible for business strategies (development & execution), profitability and capital, relationship building with local stakeholders.

9 July 2018

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