Standard Chartered Bank opens a new branch at West Bay

Bank moves to capitalise on fast growing retail business

09 June 2009, Doha - Standard Chartered Bank opened a new branch and Priority Banking Centre at West Bay on 8 June 2009. The strategic expansion is a reflection of the Bank’s strong business growth in Qatar into new retail segments. The Deputy Governor of Qatar Central Bank, His Excellency, Sheikh Fahad Bin Faisal Al-Thani, Shayne Nelson, Regional Chief Executive MENA and Tom Aaker, CEO for Qatar and North Africa were all at the official inauguration.

In addition to the branch and its Priority Banking Centre, the West Bay Branch has an exclusive SME centre dedicated to Qatar’s small and medium-sized businesses, a key growth segment for the Bank.

Standard Chartered attendees also included Standard Chartered Bank’s Regional Head of Consumer Banking, B Chandrasekhar, Dermot Fitzgerald, Qatar’s Head of Consumer Banking and Hussain Abdulla, Senior Manager of the West Bay Branch.

Officiating at the ceremony, Shayne Nelson said, "With a history going back almost 60 years in Qatar and 90 across the Middle East, the Bank has a proven and long-standing commitment to the markets in which we operate. With Qatar’s GDP growth predicted to reach 8.5%, the retail banking sector offers strong potential which we intend to capitalise on. The opening of this branch is a part of our ongoing growth strategy."

Standard Chartered Qatar's West Bay branch and Priority Banking Centre is located at Onaiza Street and is accessible from Majlis Al Taawoun Street, facing the City Centre. The branch has a full array of banking services and facilities including Priority Banking services, personal financial consulting services, teller counter services and a dedicated SME Banking Centre.

Tom Aaker added, "As the oldest Bank in Qatar, celebrating 60 years of operations in 2010, we understand this market intimately. Qatar is an important part of Standard Chartered’s strategy to grow and outperform our competitors. We fully intend to consistently deliver on our brand promise of being the right partner to our customers by providing improved branch services and channels to access the world class products and services that we’re known for globally."

Dermot Fitzgerald spoke about the strategy for the West Bay branch adding, "This branch will primarily target high net worth individuals who will be offered tailored, first class banking services. West Bay is a rapidly developing area with a number of commercial properties and luxury hotels due for completion shortly and is therefore strategically located to offer convenient banking solution for this market.

For further information please contact:

Haya Mashhood
Head, Corporate Affairs
Standard Chartered Bank
Qatar
Tel: +974 4248450
Fax: +974 4248111
Mobile: +974 5847178
Email: Haya.Mashhood@sc.com

Notes to Editors

Standard Chartered – leading the way in Asia, Africa and the Middle East

Standard Chartered PLC, listed on both London and Hong Kong stock exchanges, ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London-headquartered Group has operated for over 150 years in some of the world’s most dynamic markets, leading the way in Asia, Africa and the Middle East. Its income and profits have more than doubled over the last five years primarily as a result of organic growth and supplemented by acquisitions.

Standard Chartered aspires to be the best international bank for its customers across its markets. The Bank derives more than 90 per cent of its operating income and profits from Asia, Africa and the Middle East, generated from its Wholesale and Consumer Banking businesses. The Group has around 1,750 branches and outlets located in over 70 countries. The extraordinary growth of its markets and businesses creates exciting and challenging international career opportunities.

Leading by example to be the right partner for its stakeholders, the Group is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. It employs 75,000 people, nearly half of who are women. The Group’s employees are of 115 nationalities, of which 60 are represented among senior management.

For more information, please visit: www.standardchartered.com