The Standard Chartered Private Bank to expand in India

• New private bank offices to open in Chandigarh and Hyderabad to expand network to seven cities
• Number of relationship managers in India to double by the end of 2011
• New, dedicated private banking office opens in Delhi’s Connaught Place

The Standard Chartered Private Bank plans to open offices in two new Indian cities this year, and to double the number of its relationship managers in the country, as part of a major expansion programme aimed at the fast-growing Indian market.

The Private Bank is already present in five cities in India - Delhi, Mumbai, Kolkata, Chennai and Bangalore – and plans to expand its network to Chandigarh and Hyderabad later this year. The expansion plan will give The Standard Chartered Private Bank seven private banking centres in India, where it intends to double the number of relationship managers to more than 100 by the end of 2011.

Delhi is one of The Standard Chartered Private Bank’s largest markets in India and the Bank has now strengthened its presence with a bigger and market leading client facility at Connaught Place in Delhi.

Peter Flavel, Global Head of The Standard Chartered Private Bank commented, “Our private bank business in India is growing strongly and we are looking to double the size of our business in India over the next two to three years. India is a key part of Standard Chartered and The Private Bank’s network. As an international private bank that was founded and is headquartered in Asia, The Standard Chartered Private Bank has a deep understanding of Asia’s markets and is able to move quickly to meet the needs of the fast-growing number of private bank clients in Asia. With this new dedicated centre in Delhi, we are setting a new standard for private client facilities and our new offices in Chandigarh and Hyderabad will help us to extend our offering to new clients in those cities.”