PD Singh, Chief Executive Officer (CEO) of Standard Chartered Bank, India and South Asia | Photocredit: Reuters
Standard Chartered Bank no longer wants to add branches in India and, instead, will consolidate its footprint to have multiple formats branches to meet the requirements of the customer, said PD Singh, CEO, India and South Asia, during a press conference here today.
“We may not have to add new branches because branches are services and much of this moves to digital,” said Singh, adding that the lender would rather have a large format branches to meet the customer’s requirements.
He said the bank recently opened large branches in Kolkata and Chennai. The lender calls these large branches ‘priority centers’ and aims to increase the number of such centers from 11 to 21. In general, the bank’s branch network is today at 100.
Standard Chartered India is also launching a US Dollar Clalance facility of the Gujarat International Finance TEC (Gift) City on October 7, Singh said. He noted that even if India had shifted his import of crude oil from Russia to alternative sources, the impact $ 6-7 billion would be, which would not have a material impact on India’s growth.
India, an important market
Furthermore, Singh claimed that the lender would not borrow or transact with Indian companies punished by the US government. He also said that the invoicing of rupees can be the first to pick up in the West Asian corridor.
Singh said that India remains an important market for Standard Chartered Bank and that 20 percent of the entire global sustainable financing from the lender came from India. The lender currently has 3-4 mandates on dollar bonds and that it sees many opportunities for merger and acquisitions in the renewable energy sector.
Published on September 25, 2025
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