Standard Chartered Bangladesh
| Private | |
| Industry | Banking, Financial services |
| Founded | 1948 |
| Headquarters | 67 Gulshan Avenue, Dhaka, Bangladesh |
Key people |
Abrar A Anwar (Chief Executive Officer) |
| Products |
Credit cards Consumer banking Corporate banking Mortgage loans Wealth management |
| Revenue |
 (BDT) |
| Website | www.sc.com/bd |
Standard Chartered Bangladesh (officially M/S Standard Chartered Bank Bangladesh Pvt. Ltd.) is a banking and financial services company headquartered in Dhaka, Bangladesh and a wholly owned subsidiary of Standard Chartered. Standard Chartered has been operating in Bangladesh for over a hundred years.[1] After the partition of the subcontinent in 1947, Bangladesh became East Pakistan, thereafter SCB started its business in 1948, in the port city of Chittagong. Standard Chartered Bank is doing well in Bangladesh. However, interest rates of savings/currents accounts of SCB in Bangladesh are criticized by many to be lower. Moreover, the Bank charges pretty high debit card fee and account maintenance fee in Bangladesh. Debit card fee is at least 690 BDT (inclusive of 15% VAT) per year. Account maintenance fee for savings account is 690 BDT (inclusive of 15% VAT) which is taken as 345 BDT (inclusive of 15% VAT) each six months (usually on January 1 and June 30). Apparently, Bank is lagging behind in retail banking while promoting priority banking, platinum credit card and loans. The Bank should look at the competitive Banking market and update themselves. Fee for closing an account is more than 345 BDT (inclusive of 15% VAT), a person who closed account in SCB officially, mentions.
Like some other banks in Bangladesh, recruitment in this bank is mostly referral. It is tough to get a job in this Bank without having referral but having good qualifications.
SCB is currently promoting Saadiq banking. If someone wants to open a savings account like eSavers they are mostly advertised and sometimes intentionally misled to open a saadiq account as of 2011 & 2012. Standard Chartered Bank Bangladesh has recently, as of January 2014 eased the procedure of getting International Credit Card and have come into competition by providing VISA and Master cards. Yet, there are scopes of improvement in providing this service.
While private banks like Dutch Bangla Bank Limited and BRAC Bank Limited have booths all over the country, SCB is holding limited space here though it is one of the largest foreign banks in Bangladesh. It has branches in Bogra, Chittagong, Dhaka, Khulna, Savar and Sylhet. They have ATM booths almost all over Dhaka and Chittagong. Standard Chartered Bangladesh has bought out the Bangladesh operations of various other foreign banks such as Grindlays Bank[2] and American Express.[3]
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