StanChart to expand ops here with FTA
Local incorporation sees transfer of SME, consumer banking biz to subsidiary
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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