StanChart to expand ops here with FTA
Local incorporation sees transfer of SME, consumer banking biz to subsidiary
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STANDARD Chartered Bank plans to open additional branches following its local incorporation and the completion of a European Union-Singapore free- trade agreement (FTA).
"We expect over time . . . to have approval to have additional branches and ATMs," said StanChart Singapore CEO Ray Ferguson yesterday.
The UK-based bank has 19 branches, seven priority centres and 31 automated teller machines now, and can have up to 50 outlets or "places of business" under the EU-Singapore FTA, which is in the process of being ratified, he said.
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