The Nation Newspaper

Tag: STANCHART

  • StanChart drives inclusion within workforce

    StanChart drives inclusion within workforce

    Standard Chartered has rolled out of enhanced global parental leave benefits for its employees.

    The has bank standardised the amount of parental leave days it offers, providing parents the option of undertaking more equitable caregiving responsibilities for their children.

    With the enhanced benefits, employees can access a minimum of 20 weeks of paid parental leave, irrespective of gender, relationship status or path towards having a family.

    The enhanced benefits have been designed to support working parents and is part of the bank’s commitment to fostering an inclusive culture, where employees are supported in balancing their personal lives with building successful careers.

    Read Also: Declare your assets, EFCC chairman orders staff

     Acting Head of Human Resources, Standard Chartered Bank Nigeria Ltd, Efe Nwagu, said: “We continuously  review how we can introduce and encourage progressive benefits that drive inclusion, improve the employee experience, and help colleagues achieve their potential.

    She added, ‘‘We believe benefits such as this help address globally prevalent societal norms around traditional roles, improve workforce participation and provide options to those who want to take up shared childcare responsibilities. This will positively impact families’ financial wellbeing and create a more inclusive workplace that supports each individual’s unique family planning choices. We hope that our actions inspire other employers—across industries, to take similar actions. If we take a stand together, we can build a movement that creates a more inclusive society.”

  • IFC, StanChart boost trade with $1b

    The International Financial Corporation (IFC) and Standard Chartered Bank (StanChart), a member of the World Bank Group, have established a $1 billion facility to boost trade finance in emerging markets, helping to sustain trade flows in developing countries and narrow the gap in global trade finance.

    The initiative will support trade flows in emerging markets by allowing both institutions to share the risk of a portfolio of corporate and small and medium-sized enterprises (SME) trade flows equally.

    The arrangement is expected to enable over $4 billion in trade finance across markets in Asia, the Middle East, and Africa over three years.

    By promoting trade, the facility will help narrow the $1.5 trillion global trade finance gap at a time some banks are exiting the trade space.

    The deal builds on Standard Chartered’s longstanding presence in emerging markets and leading trade finance capabilities, and IFC’s global reach and market coverage to increase the availability of trade finance in some of the most challenging markets, including some of the world’s poorest countries. This will bring trade finance to local and regional companies, some of which are credit-constrained and rely on bank trade facilities to manage cash flows and purchase raw inputs.

    “Trade is a key driver of economic growth in emerging markets,” said Paulo de Bolle, Senior Director of IFC’s Financial Institutions Group.

    “This facility is a unique partnership that can help counter de-risking trends in developing countries and support real-sector demand for trade finance,” he added.

  • StanChart eyes bigger revenue contributions from Africa

    Standard Chartered (StanChart) Plc expects Africa to contribute more to its revenue.

    The bank’s Chairman, Jose Vinals, told Bloomberg that the region neds to put in place policies that will further spur economic growth for it to make such contributions.

    “If they do the right thing, they’ll grow faster than other countries which are more advanced. This will help Africa contribute more to the group, but for that to happen, the future needs to become the present. We are starting to see positive signs,” he said.

    The African region accounts for about 10 per cent of the London-based lender’s revenue, while Nigeria, Kenya and the United Arab Emirates fall within Standard Chartered’s top 10 markets in terms of operating profit, according to the chairman.

    “My hope is that Africa breaks with some of the constraints that have prevented its sustained growth,” Vinals said. “For that, there is a need for policies to strengthen institutions.”

    The continent is home to some of the world’s fastest-growing economies — with the International Monetary Fund projecting Ethiopia will expand 10.9 percent this year  although output is often sensitive to changes in commodity prices or hindered by political changes, corruption, burdensome regulations or unclear policies.

    The lender is experimenting with a digital-only bank in Ivory Coast, which, if successful, will be replicated in other African markets over the next 12 to 15 months, the chairman said. “Digital through mobile is something which is fundamental, not just for efficiency and economic progress but also for financial inclusion,” Vinals said.

  • StanChart renews sponsorship pact with Liverpool

    Standard Chartered Bank (StanChart) and Liverpool Football Club have announced a four-year extension to their sponsor agreement, taking the Bank’s partnership with the Club through to the end of the 2022/23 season.

    The bank first signed up as the Club’s main sponsor in July 2010, and the agreement was extended in 2013 and again in 2015. Financial terms of the agreement remain confidential.

    Liverpool FC has a large number of fans across Standard Chartered’s core markets in Asia, Africa and the Middle East and the sponsorship provides the Bank with an opportunity to accelerate visibility of its brand, improving recognition across key markets around the world.

    Additionally, over the last eight years Standard Chartered and Liverpool FC have used their partnership to support a number of the Bank’s sustainability and community investment programmes. The annual ‘Perfect Match’ game – where LFC players swap the Standard Chartered logo on their shirts for the Seeing is Believing logo – has raised more than USD480,000 to tackle avoidable blindness.

    Managing Director and Chief Commercial Officer, Liverpool Football Club, Billy Hogan said: “As a Club we’re very proud to have Standard Chartered renew their relationship for another four years. Our connection runs deep, it means more than just sponsorship, from the outset it has been about working together with the Club and our communities and supporters around the world. “Importantly, it also means we are able to support our ambitions on the pitch and compete with the best in the world. We have enjoyed many highlights of this relationship so far and I look forward to many more.”

    Group Chief Executive, Standard Chartered, Bill Winters said: “Liverpool FC is one of the world’s best-known football clubs and we are proud to be associated with them.”

  • StanChart opens more smart branches in Lagos

    Today Standard Chartered has opened the fourth in a series of 10 smart branches to be opened in Lagos by the end of June this year.

    The latest smart branch is located in the Maryland Shopping Mall to support local growing businesses and Ikeja, the business district area of Lagos State.

    The smart branches compliment the bank’s ongoing investment into digital infrastructure, while aligning with its focus on supporting the rapid expansion of key cities across its global footprint in Africa, Asia and the Middle East.

    Through its recently launched ‘Here for Africa’ campaign, Standard Chartered has reiterated its commitment to the continent and ongoing investment strategy, with Nigeria a key focus for expansion. One of the eight fastest-growing cities in Africa, Lagos generates 25 per cent of Nigeria’s total gross domestic product

    Attending the branch opening in Lagos, Jaydeep Gupta Regional Head, Retail Banking, Africa and Middle East (AME) reiterated, “Africa continues to benefit from the Group’s decision to invest $3 billion over three years in digital channels and systems, enhancing our strategic focus, customer experience and security.

    “We’re excited about the opportunities in Nigeria, and Africa as a whole.  We’re investing to bring the best in banking through our digital channels, as well as giving clients the choice of coming to a user-friendly branch when they want advice and a more personal touch.”

    Jaydeep Gupta opened the new branch alongside Executive Director of Finance for the Bank in Nigeria Yemi Owolabi and the Bank’s Head of Retail Banking for Nigeria, Ebehijie Momoh.  Maryland Shopping Mall Branch is a compact ‘smart branch’, incorporating digital elements such as iPads and free wifi, as well as on-hand experts to help customers maximise the advantages offered by the Bank’s enhanced digital channels.

    Executive Director, Finance for Nigeria, Yemi Owolabi, commented, “Our Retail Banking business in Nigeria has been growing from strength to strength.  Thanks to the support from Government and the Nigerian people, we will continue to invest in our capabilities to deliver increasingly efficient, cost effective and accessible banking for all our customers.  With these additional branches, we aim to extend the reach and accessibility of banking, while freeing up our clients’ time to focus on their personal priorities.”

    Head of Retail Banking for Nigeria, Ebehijie Momoh, commented, “We are aligning with our global retail strategy to streamline our business operations, and build scale in Lagos –  one of our African cities identified for growth, and already benefiting from the Bank’s global platforms, digital innovations and market leading online and mobile channels.

  • StanChart lists gains of Chinese currency to Nigeria, others

    StanChart lists gains of Chinese currency to Nigeria, others

    Standard Chartered Bank (StanChart) has highlighted the benefits the use of Renminbi, Chinese currency, in major transactions would bring to Nigeria, Kenya and South African economies.

    Already, experts from StanChart’s Greater China Region are planning a road-show to the three countries to enable them outline the benefits and investment opportunities China’s latest ‘One Belt One Road’ initiative and global currency, the Renminbi, brings to the continent.

    The road-show is aptly timed with the Renminbi’s officiation into the International Monetary Fund’s ‘Special Drawing Rights’ (SDR) list of global currencies, which became effective last October 1.  “We have been at the forefront of the journey, partnering with Chinese authorities and supporting global clients in leveraging the opportunities the Renminbi and investment partnerships bring. China’s ‘One Belt, One Road’, is a development strategy launched by the Chinese government in 2013,” StanChart said in a statement.

    “Also referred to as the ‘New Silk Road Plan’, the ‘Belt’ route links China with Europe through Central and Western Asia, and the ‘Road’ refers to the 21st Century Maritime Silk Road, which connects China’s ports to Southeast Asian countries, Europe and Africa,” it added.

    StanChart’s Head of Renminbi Solutions for Corporate and Institutional Banking commented, Carmen Ling, said:  “One Belt One Road’ aims to promote cooperation between more than 60 countries along the route, in key areas such as policy coordination, infrastructure, trade relations, financial integration and intercultural exchange.  With a presence in Africa, Asia and the Middle East, StanChart has the products, insight and experience to support and guide governments and corporate clients on how they may benefit from China’s ongoing investment and trade.”

    StanChart’s Regional Chief Executive Officer for Africa & the Middle East, Sunil Kaushal, added.

  • StanChart wins Best Social Media Initiative award

    StanChart wins Best Social Media Initiative award

    Standard Chartered Bank Nigeria Limited (StanChart) has won the Best  Social Media Initiative and Wealth Management Team of the Year in West Africa by The Asian Banker.

    This was announced at a gala dinner in Lagos.

    The bank’s Head of Retail Banking, Ebehijie Momoh, praised the bank’s clients and the financial services community in Nigeria and West Africa for their vote of confidence in the bank.

    “The bank continues to deploy resources towards connecting and engaging with customers in real time. Providing the right financial solutions and advice to help grow the businesses and investments of our clients remains a key priority.  We continue to direct efforts towards giving premium customer service while enhancing the digital experience of both existing and potential customers,’’ Ebby said.

    She added that the bank will continue to invest in enhancing  people and its channels, mainly online and mobile banking. Last month, as part of efforts to improve its services and products, the bank re-launched its online banking platform and earlier in the year had also launched retail workbench a mobile banking app for opening and updating customer accounts with ipads on the go.

    She noted that staff of the bank had gone through various trainings, such as the ‘SCB Way’, adding that the investment in enhancing customer service has yielded results, making Standard Chartered one of the leading financial institutions in the country.

    Acting Head of Wealth Management Nigeria, Simpa Adaba, said: “We continue to give our clients access to best-in-class Investment and forex solutions both locally and across the globe, enabling them diversify their portfolios across geographies, markets, currencies and asset classes.’’

    He added: “We have a strong dedicated team of investment advisors and treasury product specialists integrated into a global solutions team, thus incorporating international expertise and local capabilities.”

  • StanChart eyes new technology for Nigeria, other markets

    Standard Chartered Bank (StanChart) is bringing its newest mobile and online banking platform to one million clients across eight African markets as it plans to launch fingerprint recognition technology in Nigeria, Botswana, Ghana, Kenya, Tanzania, Uganda, Zambia and Zimbabwe in the first half of this year.

    The new technology, the lender said, would give customers a more secure and convenient way to log-in to their accounts, pointing out that the new banking platform, is the most extensive digital rollout of its kind in Africa by an international bank. Supported by the bank’s global-standard technology, clients will enjoy a consistent online experience across laptops, tablets or mobile phones, and the convenience of banking from the location of their choice.

    The bank’s Chief Executive Officer for Nigeria and West Africa, Mrs. Bola Adesola, said: “We are reiterating our commitment to our clients to provide the best in-class services and solutions for their banking needs. Nigeria is an integral market for Standard Chartered Bank and with such innovative banking technologies, we are positioning ourselves as the bank of choice for existing and potential clients in this new era of digital banking.”

    With Africa’s mobile penetration estimated to be around 67 per cent, the launch brings Standard Chartered Mobile, Standard Chartered’s mobile banking application to Botswana, Kenya, Uganda, Tanzania, Zambia and Zimbabwe for the first time. In Nigeria and Ghana, mobile banking clients will move to the bank’s standard global platform. Through Standard Chartered Mobile, clients can check balances, transfer money and pay bills securely, all through their smartphones.

    “We’re bringing the best in mobile banking to Africa–consumers across the continent are increasingly affluent and tech-savvy and they want convenient access to their bank, wherever they happen to be,”  said Karen Fawcett, Standard Chartered’s CEO for Retail Banking.

    “Africa is important to Standard Chartered and this launch is another demonstration of that.

    “We are committed to making banking easier, faster and safer for our more than 1 million retail clients across Africa,” commented Jaydeep Gupta, Standard Chartered’s regional head of Retail Banking for Africa and the Middle East.

    “This multi-country roll-out is in line with our promise to bring world-class products and functionality to Africa, consistent with the trends and progress we are making in our international markets in Asia and the Middle East. By early next year, we expect at least, 35 per cent of all clients transactions to be done through online channels; significantly advancing the transformation of banking in Africa.”

  • StanChart unveils mobile, online banking platforms

    StanChart unveils mobile, online banking platforms

    Standard Chartered Bank (StanChart) is bringing its newest mobile and online banking platform to one million customers across eight African markets. It is the most extensive digital rollout of its kind in Africa by an international bank.

    Supported by the bank’s global-standard technology, customers will enjoy a consistent online experience across laptops, tablets or mobile phones, and the convenience of banking from the location of their choice. After the rollout to Botswana, Ghana, Kenya, Nigeria, Tanzania, Uganda, Zambia and Zimbabwe in the first half of 2016, the Bank will launch fingerprint recognition technology in these markets later in the year, giving clients a more secure and convenient way to log in to their accounts.

    “We’re bringing the best in mobile banking to Africa – customers across the continent are increasingly affluent and tech-savvy and they want convenient access to their bank, wherever they happen to be,” said Karen Fawcett, Standard Chartered’s CEO for Retail Banking.

    “Africa is important to Standard Chartered and this launch is another demonstration of that. We are committed to making banking easier, faster and safer for our more than one million retail clients across Africa,” commented Jaydeep Gupta, Standard Chartered’s regional head of Retail Banking for Africa and the Middle East. “This multi-country roll-out is in line with our promise to bring world-class products and functionality to Africa, consistent with the trends and progress we are making in our international markets in Asia and the Middle East. By early next year, we expect at least 35 per cent of all customers’ transactions to be done through online channels; significantly advancing the transformation of banking in Africa.”

    Bola Adesola, Standard Chartered’s Chief Executive Officer for Nigeria and West Africa 1 added:  ‘We are reiterating our commitment to our clients to provide the best in-class services and solutions for their banking needs. Nigeria is an integral market for Standard Chartered Bank and with such innovative banking technologies, we are postioning ourselves as the bank of choice for existing and potential clients in this new era of digital banking.’

  • StanChart forms board to check financial crime

    StanChart forms board to check financial crime

    Standard Chartered Plc  (the Group) has confirmed the  formation of a Board Financial Crime Risk Committee (BFCRC), which will have Board-level oversight of the group’s financial crime compliance programme.

    The establishment of the committee is in line with its priority to combat financial crimes and commitment to improving conduct.

    The BFCRC, it said in a report, is responsible for oversight of the Group’s policies, procedures, systems, controls and assurance for anti-money laundering, sanctions compliance, and prevention of bribery, corruption and tax crime, alongside its oversight of the group’s financial crime compliance programme, including the financial crime risk mitigation programme and its commitments under the 2012 and 2014 Orders.

    The BFCRC which assumed its responsibilities since January, builds and replaces the Board Regulatory Oversight Committee (BROC), which has been in place since the beginning of 2013.

    Sir John Peace, Chairman of Standard Chartered Plc said: “Over the past two years, we have dedicated an enormous amount of resources, investment, training and management attention to our financial crime compliance programmes. The formation of this committee, together with the substantial build out of our financial crime compliance function, demonstrates our commitment to strong conduct and compliance at all levels of the organisation.”

    Throughout 2014, Standard Chartered made a number of significant enhancements to the capacity. The lender said it is committed to investing in compliance, conduct and remediation improvements. Investments include systems upgrades, policy development, process improvements, capability building in sanctions compliance and anti-money laundering controls, as well as combating bribery and corruption.