SCB Full Form

What is the full form of SCB?

The full form of SCB is Standard Chartered Bank. Standard Chartered Bank is a multinational British investment bank and financial organisation, based in London, England. It has a network of over 1,200 subsidiaries and branches spread throughout more than 70 countries through associates, joint ventures, and subsidiaries, and it employs about 87,000 people. It is a universal bank that offers services for personal, company, and institutional treasury.

This Story also Contains

1. What is the full form of SCB?
2. History of SCB in India
3. Services Offered By SCB
4. Standard Chartered Bank in India
5. Acknowledgement & Honours
6. Sustainability

Despite having a UK basis, it does not offer retail banking services there, and 90% of its profits come from the Middle East, Africa, and Asia. The major listing for Standard Chartered is on the LSE, and it is a component of the FTSE 100 Index (London Stock Exchange).

The name Standard Chartered is a combination of the names of the two banks that it was established by combining in 1969: Chartered Bank of India, Australia & China and Standard Bank of British South Africa.

History of SCB in India

• James Wilson established the Chartered Bank of India, Australia, and China in 1858 thanks to a royal charter granted by Queen Victoria.

• They first established subsidiaries in Hong Kong, then in Shanghai and the former Calcutta, Bombay, and Hong Kong. Additionally, they bought a number of tiny banks throughout Asia and Europe.

• The Standard Bank was established in Cape Town, South Africa, in 1862 by John Paterson. The well-known bank bought numerous tiny banks in Africa and the US.

• The two banks made the decision to merge in 1969 so they could continue to grow outside of their established markets in both Europe and the United States. A new financial organisation called Standard Chartered Bank was created as a result of the merger.

Services Offered By SCB

By facilitating trade and investment flow across the Americas, Asia, Africa, the Middle East, and Europe, and with a focus on large enterprises, governments, banks, investors, and development organisations, SCB has a presence in the US that allows better service to its customers.

• Private/personal/corporate/retail/consumer banking

• Mortgage loans

• Credit cards

• Wealth management

• Investment banking

Standard Chartered Bank in India

One of the first international banks to operate in India is Standard Chartered Bank, which has been doing so for more than 160 years. There are 100 branches of the bank spread over 42 cities. Corporate, Commercial, and Institutional Banking, as well as Consumer, Private, and Business Banking, are important business segments. In addition to a full-service universal bank, the group also operates a retail securities brokerage firm, a Non-Banking Finance lending entity to supplement the presence of this Bank in particular geographies and market segments, and it was the first foreign bank to start banking operations in India's International Financial Services Centre (in Gujarat International Finance Tec-City (GIFT City), Gujarat).

They are a top international banking group on a global scale, operating in 59 of the most dynamic markets and providing client services in an additional 85.

Acknowledgement & Honours

The superior services and client management of Standard Chartered Bank have been acknowledged. Because of this, it has been included in the top trade listings of numerous stock market groupings. To name a few of them:

• Financial Times Stock Exchange (FTSE) 100 Index

• Stock Exchange of Hong Kong

• London Stock Exchange (LSE)

• Pink OTC Market Group

• National Stock Exchange of India Limited (NSE)

Sustainability

The business, operations, and communities of SCB all strive to include sustainable methods.

1. Sustainable Finance in Business

SCB supports sustainable financing in markets as a top financial institution. They are devoted to promoting sustainable economic development, increasing financing for renewable energy sources, and making the most necessary investments in environmentally sound infrastructure.

2. Responsible Business

Fighting financial crime, reducing environmental impact, investing in their employees, and enshrining their values throughout the business in the markets where they operate in all aspects of our commitment in order to be a responsible firm.

3. Integrated Communities

By implementing community activities that aim to combat inequality, SCB encourages economic inclusion in the markets. In order to encourage social and economic growth, they collaborate with communities.