Page 2 - Standard Chartered

India likely to see at least 30 GCCs with billion-dollar revenue this year

Data from Pune-based consultancy Wizmatic shows that there were about 24 GCCs with annual revenue of more than $1 billion in FY24; that number is expected to grow by five or six more such players

Maruti Suzuki partners Standard Chartered for dealer financing solutions

Maruti Suzuki India Ltd on Tuesday said it has entered into an alliance with Standard Chartered Bank for inventory funding for its dealers. The company has signed a Memorandum of Understanding (MoU) with Standard Chartered for inventory funding which will empower over 4,000 Maruti Suzuki sales outlets across the country, with comprehensive inventory funding options for their working capital requirements, Maruti Suzuki India said in a statement. "This partnership takes us a step towards further empowering our dealer partners, while the company continues to expand its market presence, as always. This strategic alliance will leverage the combined strengths of MSIL and Standard Chartered to offer comprehensive working capital solutions to our dealer partners," Maruti Suzuki India Ltd (MSIL) Senior Executive Officer, Marketing & Sales, Partho Banerjee said. The financing solution will support dealerships in enhancing their ability to manage inventory efficiently and deliver exceptional

Analysts sound caution on India Inc's earnings growth amid market pullback

We remain Neutral India equities, which is relatively insulated from tariff concerns, but faces headwind from negative earnings revisions, wrote analysts at Standard Chartered in a recent note.

Lender SMFG raises $175 mn through ECB facility on a fully hedged basis

Company to use fund to expand portfolio and provide 'greater access to credit for individuals and businesses'

StanChart boosts private credit presence with 3 new hires in India

StanChart recently hired former UBS Group AG's Ankit Raghav as director for its leveraged and acquisition finance, and private credit team

Standard Chartered raises 1 bn euro via social bond, commits 50% for India

Standard Chartered has raised 1 billion euro (about Rs 9,400 crore) through issuance of the first social bond which will support sustainable development projects across the bank's emerging market footprint, including India. The 8-year bond will primarily facilitate lending to small and medium sized enterprises (SMEs), ensuring access to finance, helping create jobs and empowering and nurturing women-owned SMEs, StanChart said in a statement on Friday. Of the total, about 50 per cent would be allocated for India for sustainable projects. Proceeds will also finance access to essential services including healthcare and education, and will facilitate investment into affordable basic infrastructure and food security, in line with the social activities set out in the bank's Sustainability Bond Framework, it said. The top five countries where StanChart's social assets are located include India (57 per cent), Malaysia (10 per cent), Bangladesh (6 per cent), Mainland China (5 per cent), and

PD Singh to succeed Zarin Daruwala as Standard Chartered India CEO

The tenure would be effective April 1

StanChart appoints former South African bank CEO Ramos as new chair

Ramos, 65, joined StanChart's board as an independent non-executive director in January 2021 and was the head of South African bank ABSA Group Ltd from 2009 to 2019

Standard Chartered chief Winters to visit India amid rising wealth focus

The trip comes as StanChart is scheduled to start its global wealth campaign in India, and Winters is scheduled to meet key clients, a spokesman said in response to emailed questions on Monday

Tata Capital raises $400 mn via maiden dollar-denominated bond issue

The non-banking finance company will pay a coupon of 5.3890 per cent on what is its maiden dollar-bond issue

StanChart names ex-JPMorgan chief PD Singh as India, South Asia CEO nominee

If approved, P D Singh will succeed Zarin Daruwala, who is set to retire on April 1, 2025, after nearly a decade in the role

StanChart aims $200 bn in new wealth assets, eyes Chinese, Indian clients

The bank sees good growth opportunities particularly as clients look to move businesses out of China

British firms downbeat about China business despite stimulus: Survey

Doing business in China had become tougher for five consecutive years and only 41 per cent of its members were expecting to have a better time next year, the survey said

Kotak Mahindra Bank to buy Standard Chartered's India personal loan book

Transaction is expected to be completed over next three months

Standard Chartered to offer 1st commercial debt to carbon credit firm

Carrie Harris, director of sustainability at British Airways, said carbon removals formed a key part of reaching its climate goals

Standard Chartered Bank exits Protean eGov Tech, sells stake for Rs 225 cr

British multinational Standard Chartered Bank on Thursday exited Protean eGov Technologies by selling its entire 3.09 per cent stake for Rs 225 crore through an open market transaction. According to the bulk deal data available on the BSE, Standard Chartered Bank offloaded 12.50 lakh shares or 3.09 per cent stake in Protean eGov Technologies. The shares were disposed of at an average price of Rs 1,799.79 apiece, taking the deal value to Rs 224.97 crore. At the end of the June quarter, London-based Standard Chartered Bank owned a 3.09 per cent stake in Protean eGov Technologies, shareholding data showed with the bourse. Details of buyers of Protean eGov Tech's shares could not be ascertained. Shares of Protean eGov Technologies fell 1.19 per cent to close at Rs 1,845.45 per piece on the BSE. On Monday, Protean eGov Technologies reported a 10.83 per cent decline in its consolidated net sales to Rs 196.54 crore for the quarter ended June, compared to Rs 220.41 crore in the correspon

Tamil Nadu emerges as GCC magnet, pharma major AstraZeneca leads the charge

Not just AstraZeneca, but Pfizer and Roche have also set up their centres in the state

Standard Chartered Q1 2024 results: Profits rise 5.5%, beat estimates

Despite the forecast-beating quarterly profit, the bank saw its credit impairments worsen in 2024

Jio Financial set to hire StanChart India consumer banking head Kusal Roy

Jio Financial Services Ltd has been actively recruiting talent as part of its expansion effort

Standard Chartered Bank sells entire 7.18% stake in CDSL for Rs 1,266 crore

Standard Chartered Bank on Wednesday sold its entire 7.18 per cent stake in Central Depository Services (India) Ltd for Rs 1,266 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), Standard Chartered Bank offloaded 75 lakh shares of Central Depository Services (India) Ltd (CDSL). The shares were disposed of at an average price of Rs 1,688.64 apiece, taking the transaction value to Rs 1,266.48 crore. As of December 2023, Standard Chartered Bank had owned a 7.18 per cent stake in CDSL, shareholding data showed with the NSE. Details of the buyers of CDSL's shares could not be ascertained. Shares of CDSL plunged 5.58 per cent to close at Rs 1,689 apiece on the NSE.. In a separate transaction on the NSE, Chicago-based Equity International divested a 4.7 per cent stake in Samhi Hotels for Rs 209 crore through an open market transaction. Equity International through its affiliate company -- Blue Chandra Pte Ltd --