Standard Chartered reopens Japan desk in Chennai

Standard Chartered today announced that it has reopened its Japan desk in Chennai.

Standard Chartered is one of the few foreign banks to have a desk dedicated to focusing on the interests and banking requirements of Japanese companies in the region. This will help deepen the bank’s relationship with the senior management teams of Japanese companies based in Chennai, said the bank in a statement.

Standard Chartered  will provide a range of services and banking products to the Japanese companies as well as work with various product partners to offer customised banking solutions to its clients.

Some of the banking products and services offered include cash management and trade related services and products, financial market products, debt capital market products, and employee banking services. In addition, it will also provide detailed guidance on FDI investment and M&A.

In a press release Ananth Venkat, MD & Regional Head, International Corporates, ASEAN and South Asia, said: “The relationship between India and Japan has a huge potential for growth. Our Japan desk at Chennai will strengthen our delivery to the Japanese clients and in addition to banking requirements, support them in understanding the complexities of the Indian Market and Regulatory requirements, as they look to expand their operations in India.”

There are currently over 1,200 Japanese companies in India. An incremental investment into India of JPY 3.5 trillion was committed by the Japanese Government over the next five years during PM Narendra Modi’s visit. On this basis, more investment from Japan is foreseen, said the bank.