Standard Chartered

Few would deny that the world is now looking more toward Asia as it looks away from the United States. Despite the recent economic downturn, China and India have both continued to post growth in GDP, and have weathered the recession perhaps better than anywhere. Projections recently released by Goldman Sachs see growth at 8 percent for the second half of 2010. Meanwhile, earlier in the year, Indian Finance Minister Pranab Mukherjee said: "For the first time it appears entirely within the realm of possibility that India will break into double-digit growth within the next five years."

Of all the banks in Tokyo to benefit from this turn of events, perhaps Standard Chartered is the best positioned. "For (the) wholesale (part of our business), India, China and Southeast Asia are major areas for our business. For Japanese clients, these countries are not just manufacturing bases, they are high potential markets due to their growing purchasing power. So as they expand into these areas we have more opportunities to serve them," says Head of Wholesale Banking Hiroshi Hashida.ﾂ 

The practice has payed dividends for Standard Chartered, which came out of the international financial crisis unscathed. "Financially, our bank has recorded seven years of consecutive growth, and also in Japan we have been growing year after year," says Hashida.
That growth, the Head of Wholesale Banking argues, is down to the strengths the company has. "We have three major strengths: Standard Chartered has extremely strong capabilities in emerging markets, and our bank is very focused on these areas. We also have a strong network within these countries, which clients can use. We also have a strong capital base that allows us to cater to our clients needs."

In the area of individual retail banking, a service the company has launched in recent years, Standard Chartered offers customers the expertise it has garnered from its wholesale business to provide client support. "In terms of Consumer Banking, we are known for giving specific advice and specific products to people wanting to work in emerging economies," says Yasunori Hirano, Head of Consumer Banking. The Bank also occasionally offers incentives for those introducing friends and acquaintances to their service.
http://www.standardchartered.co.jp/en/

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