Standard Chartered Bank operated a Representative Office in Rio de Janeiro Brazil for 23 years until 2002, when the businesses were consolidated into the Sao Paulo office, which had been opened in 2001. According to the business guidelines of the Central Bank of Brazil, a Representative Office is not authorized to accept deposits or conduct commercial banking business. Standard Chartered operates through a network of Institutional Banking Correspondents. Standard Chartered's Representative Office is responsible for the Group's Corporate and Institutional Banking marketing efforts in Brazil, and also offers advisory and support services to both segments.

Standard Chartered Bank in Brazil is primarily an Institutional Banking business focused on providing cross border financing and services to financial institutions and selected major local and multinational corporations; trade finance and clearing services is our core business. The office assists in the identification of business opportunities for other units in the Standard Chartered Group such as Treasury (NDF's, FX, Options, Derivatives, etc.), Trade Finance (L/C's, Export and Import Financing), Cash Management and Structured Trade and Export Financing (Pre-shipment Financing, Export Credit Agencies, etc.). In addition, the Representative Office operates a Trade Services Unit that has certain trade services capabilities.