Its retail strategy is now focused on multiproduct relationships with individual and SME (small and medium enterprise) clients, anchored in wealth solutions and international banking, rather than pushing standalone single-product offerings. As a result, its outstanding credit card portfolio is unlikely to see significant additions.
StanC has already sold its personal loan business to Kotak Mahindra Bank.
“We will focus on multiproduct relationships with individual clients, which is anchored in wealth solutions, international banking, and seamless consistent services. What we will not like to do is standalone single-product push with the customers. Our strategy is to have deep-seated meaningful relationships with clients and SMEs,” said Aditya Mandloi, managing director, wealth retail banking head – India & South Asia.
The bank has 700,000 credit cards, and of that 550,000 are standalone cards. The rest 150,000 credit cards are multiproduct relationships, and the bank will keep deep-mining this segment.
“For the balance, our engagement with them continues to try and see how we can get them to feel interested based on their own needs of availing of various offers beyond credit cards,” Mandloi said, adding that credit card as a retail offering is a mainstay of retail and wealth bank strategy.
“What the bank will not do is go and solicit standalone cards from the market. We will offer our new cards to customers who have a relationship with us so that they are able to avail of the lifestyle payment privileges that come along with credit cards,” he said.
The bank said it has revamped its priority banking proposition in the country. At the core of the refreshed priority proposition is the bank’s wealth expertise, enabling clients to grow, manage and protect their wealth through a comprehensive suite of solutions, supported by a team of wealth specialists and relationship managers. The bank is also investing in offering bespoke, personalised experiences to clients through dedicated priority banking centres within existing branches. Currently, the bank has 20 such centres, and would add another 15 in 2026. The bank has 98 branches in India, and eventually it would look to convert all its branches into dedicated priority centres.
Additionally, the bank said its priority banking proposition includes “Priority Exclusives”, which offers curated lifestyle, travel, and wellness privileges. Priority exclusives include access to lifestyle benefits and experiences, and the “Beyond Credit Card”, an invite-only metal card for priority clients, that’s in sync with the aspirations of the global Indian.
As of now, about 125,000 customers of the bank are eligible for this invite-only credit card.
Under its retail banking framework, the bank has defined thresholds: up to ₹15 lakh is Personal Banking; ₹15 lakh to ₹50 lakh is Emerging Affluent; ₹50 lakh to ₹2.5 crore is Priority Banking; ₹2.5 crore to $1 million is Enhanced Priority; and above $1 million is Private Banking.
“India continues to be a strategic growth market for our wealth and retail banking business. Our enhanced priority proposition, including the launch of Beyond Credit Card, reflects our commitment to further entrench ourselves within the wealth and affluent segment. Our client continuum, global network, and wealth expertise uniquely position Standard Chartered as a leading international wealth player,” Mandloi said.
 "Standard Chartered")