Standard Chartered Pakistan

Standard Chartered Pakistan (Urdu: اسٹینڈرڈ چارٹرڈ بینک (پاکستان) لمیٹڈ) is a Pakistani banking and financial services company in Pakistan and is a wholly-owned subsidiary of British multinational bank Standard Chartered.

Standard Chartered Bank (Pakistan) Limited
TypePublic
PSX: SCBPL
IndustryBanking
Global Markets
FoundedMarch 1863 (1863-03)
HeadquartersPrincipal Office
Karachi Pakistan
Key people
Rehan M. Shaikh, CEO
ProductsLoans, Credit Cards, Debit Cards, Savings, Consumer Banking, Premium Banking, Business Banking, Islamic Banking, Priority Banking etc.
RevenueIncrease Rs. 37.393 billion (US$130 million)[1] (2021)
Increase Rs. 13.728 billion (US$48 million)[2] (2021)
Total assetsIncrease Rs. 839.426 billion (US$2.9 billion)[3] (2021)
ParentStandard Chartered
Websitewww.sc.com/pk
Standard Chartered Bank (Pakistan) Headquarters, Karachi

It is Pakistan's oldest and largest foreign commercial bank. It employs over 2,200 people in its 40 branches in 10 cities of Pakistan.[4]

History

The history of Standard Chartered in Pakistan dates back to 1863, when the Chartered Bank of India, Australia and China first established its operations in Karachi.

In 2006, Standard Chartered Bank acquired Pakistan's Union Bank. On 30 December 2006, Standard Chartered merged Union Bank with its own subsidiary, Standard Chartered Bank (Pakistan), to create Pakistan's sixth largest bank.[5][6][7]

FinCEN

Standard Chartered was named in FinCEN leak, published by Buzzfeed News and the International Consortium of Investigative Journalists (ICIJ). It had four suspicious transactions flagged.[8]

See also

References
  1. https://av.sc.com/pk/content/docs/pk-annual-report-2021.pdf
  2. https://av.sc.com/pk/content/docs/pk-annual-report-2021.pdf
  3. https://av.sc.com/pk/content/docs/pk-annual-report-2021.pdf
  4. https://av.sc.com/pk/content/docs/ae-03-qtr22-accounts.pdf
  5. "Standard Chartered Acquisition of 95.37% Interest in Union Bank Ltd" Standard Chartered, 6 September 2006
  6. "Standard Chartered acquires Union Bank" The Dawn, 5 September 2006
  7. "Standard Chartered Bank (Pakistan) Limited | EMIS " securities.com
  8. Report, Monitoring (2020-09-21). "Six Pakistani banks named in FinCEN leak". Profit by Pakistan Today. Retrieved 2020-09-23.
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