.jpg) Standard Chartered Bank Building in Mumbai. | |
| Company type | Branch[1] |
|---|---|
| Industry | Bank,Financial services |
| Predecessor | Chartered Bank of India, Australia and China |
| Founded | 1853; 173 years ago (1853), incorporated inLondon |
| Headquarters | Bandra Kurla Complex, Bandra East, Mumbai, 400051 ,India |
Key people | Prabdev Singh (CEO) |
| Products | |
 ₹21,648 crore (US$2.6 billion) (2023)[1] | |
| Total assets | ₹237,130 crore (US$28 billion) (2023)[1] |
| Parent | Standard Chartered |
| Website | www |
Standard Chartered India (officiallyStandard Chartered Bank India Branches) is a foreignbranch ofStandard Chartered, incorporated in theUnited Kingdom with limited liability.[1] It is considered as a foreign bank under theBanking Regulation Act, 1949 and thus is regulated by theReserve Bank of India (RBI). The bank has been operating in India for over 160 years, first as theChartered Bank of India, Australia and China which set up its first branches inKolkata andMumbai in 1858. It is also the largest foreign bank in India, with 100 branches across 42 cities.[2][3]
The predecessor of Standard Chartered India isThe Chartered Bank of India, Australia and China which is a bank incorporated in London in 1853 byJames Wilson following the grant of aRoyal charter fromQueen Victoria.[4]
The bank expanded rapidly by capitalising the lucrative trade between Europe andFar East. It also financed regional projects such as theIndo-European telegraph line from London toCalcutta.[5] In the early 20th century, the bank continued to tap on Asian business such as cotton fromBombay, indigo and tea from Calcutta and rice fromBurma.[6]
In 1969, Chartered Bank merged with theSouth African bank Standard Bank, forming Standard Chartered Bank. After the merger, the Indian branch of the bank continued to handle the local business.[7]
In 2015, the bank announced its intention to be incorporated locally and become awholly owned subsidiary (WOS).[8] However, this plan has never been materialised and Standard Chartered India remained its status as a branch of foreign bank.
In 2024, the bank sold its 41 billion rupees personal loan portfolio toKotak Mahindra Bank, as part of its plan to refresh strategy to target at higher end business.[9] It is also announced that Zarin Daruwala, the bank's long-serving CEO since 2016, would retire in March 2025.[10]
| Divisions and subsidiaries |  | |
|---|---|---|
| Predecessors | ||
| Places | ||
| Management |
| |
| Sponsorships | ||
| Other | ||
