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SCB Indonesia named as Best Sub-Custodian Bank by the Global Finance Magazine
03-Jun-08
Standard Chartered Bank Indonesia was named Best Sub-Custodian Bank 2008 in Indonesia in their Asian category by Global Finance magazine in New York earlier this week.
Global Finance magazine which released its sixth annual ranking of the “Best Sub-Custodians” with inputs from expert sources, selected the winners from the institutions that reliably provide the best custody services in local markets and regions to global custodians. The criteria included customer relations, quality of service, competitive pricing, smooth handling of exception items, technology platforms, post-settlement operations, business-continuity plans and knowledge of local regulations and practices.
The winners were chosen in nine regions and 47 countries. The winning banks will be presented their awards at a special ceremony to be held during the Annual Meetings of the IMF and World Bank in Washington DC in October 2008.
“Building on its fantastic performance in 2006, Standard Chartered has turned out another spectacular performance from its Securities Services business in 2007. When we spoke last year, we mentioned that Securities Services had been the beneficiary of significant investment funds to take the business to the next level. Once again in the most recent investment ground, Securities Services garnered a very large slice of the overall investment pie. For us, the Custody business has become more about information management rather than processing and clearing.” said CEO Simon Morris.
In 2007 the Standard Chartered Bank significantly enhanced its Securities Services web site to offer more value added reporting and content management. In keeping with the overall theme of cross-sell and one stop shops within the business, Standard Chartered Bank integrated the newsflash and market information capability within Straight2Bank and going forward all our Securities Services customers will also have access to value added economists reports and business commentary on FX, interest rate and commodity movements and developments in financial markets across various geographies. Customer feedback with regard to the new website has been very favourable, and Standard Chartered Bank has signed up 1200 users on the website. In addition to Securities Market Information and newsflashes the site now also has Depository Risk Information.