StanChart to expand ops here with FTA

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.