Site mapGroup Overview: Our Business
Balanced growth across our businesses
Consumer Banking
We delivered strong performance across the business and integrated recent acquisitions. We further consolidated our presence in key markets through significant investments in strengthening distribution, deepening product capability and launching our Private Bank.
“Breadth and balance of businesses across fast-growing and attractive markets drove income and profit growth.”
Mike DeNoma, Group Executive Director, Consumer Banking
Description
Consumer Banking provides innovative financial products and services to over 14 million customers, including individuals and small and medium enterprises (‘SMEs’), in Asia, Africa and the Middle East. We also launched The Standard Chartered Private Bank to serve the growing demand for more specialised products and services tailored for high net worth individuals in our markets. We are focused on continuously improving the benefits and experience of our customers.
2007 highlights and achievements
- Launched The Standard Chartered Private Bank, with offices now spread across 11 locations in seven markets; we have had significant success in building a strong new team and attracting new clients and assets
- Locally incorporated in China enabling us to serve our customers in local currency; now represented in 13 cities across the nation through 38 outlets
- Launched Consumer Transaction Banking to deepen capability in serving customers’ transaction needs through all channels, including the internet and mobile phones
- Agreed to acquire a stake in UTI Securities in India, adding on-line and off-line brokerage capabilities and 39 outlets
- Continued strong growth in Wealth Management driven by product innovation and deeper customer penetration
- Invested significantly in SME Banking across our franchise yielding strong income growth across major markets and product areas
- Continued to drive product innovation; launched over 1,500 global product initiatives across Wealth Management, SME Banking and other product areas
- Conducted over 150 Rapid Improvement Events to improve cycle times, accuracy and costs of key processes
Priorities
- Enhance the overall experience we provide to our customers
- Continue to innovate in products and services across our markets
- Further develop and leverage our network of branches and ATMs
- Strengthen our internet and mobile banking capabilities
- Continue progress on the integration of our acquisitions
- Simplify processes and provide support tools to improve the effectiveness and experience of our frontline staff
- Improve productivity levels across the organisation
Operating income
$5,806m
- 2006: $4,684m
- 2005: $3,802m
Profit before taxation
$1,677m
- 2006: $1,322m
- 2005: $1,273m
