StanChart safe from global turmoil - official
Dec 18, 2008
STANDARD Chartered Bank remains well capitalised despite the turmoil in the global financial markets, the regional head of consumer banking has said.<br>“We have a strong financial muscle and cannot be affected by the global financial crisis.
By James Odomel in Hong Kong
STANDARD Chartered Bank remains well capitalised despite the turmoil in the global financial markets, the regional head of consumer banking has said.
“We have a strong financial muscle and cannot be affected by the global financial crisis.
“As your right business partner, we are dedicated to providing hassle-free and professional services.
“Our goal is to offer a one-stop convenient banking experience,†Raheel Ahmed said during the just-concluded Africa small and medium enterprises (SMEs) expo in Hong Kong.
The bank sponsored 150 of its Africa SME customers to the annual World expo in Hong Kong and Guangzhou, China. Ninenteen of these were from Uganda and the trip cost the bank $300,000 (about sh585m).
Ahmed added that with a unique international network, the bank has been well-positioned to enable SMEs conduct cross-border business in Asian markets.
He said the bank offers SME clients a range of products designed to ease cross-border transactions.
These include the Express Trade Service and the International Trade Account.
“Customers have benefited from this initiative by being able to open new accounts that can be accessed outside the customers’ home markets to facilitate cross-border transactions,†Ahmed said. SMEs are key drivers of growth in Africa.
Standard Chartered believes that SMEs in Africa currently account for between 30-60% of GDP, predicting that SMEs will be a key driver of sustainable economic growth in Africa over the next 10 years.
The Bank is committed to assisting the development of the SME sector in Africa through the provision of innovative financial services. Last September, Standard Chartered Bank ran its hugely successful ‘Africa SME month’ launching new products and services, exclusively to its customers in Africa
The exhibition offered participants the chance to participate in forums with suppliers and customers, obtain market advice and build valuable business ties with other SMEs from around the world
STANDARD Chartered Bank remains well capitalised despite the turmoil in the global financial markets, the regional head of consumer banking has said.
“We have a strong financial muscle and cannot be affected by the global financial crisis.
“As your right business partner, we are dedicated to providing hassle-free and professional services.
“Our goal is to offer a one-stop convenient banking experience,†Raheel Ahmed said during the just-concluded Africa small and medium enterprises (SMEs) expo in Hong Kong.
The bank sponsored 150 of its Africa SME customers to the annual World expo in Hong Kong and Guangzhou, China. Ninenteen of these were from Uganda and the trip cost the bank $300,000 (about sh585m).
Ahmed added that with a unique international network, the bank has been well-positioned to enable SMEs conduct cross-border business in Asian markets.
He said the bank offers SME clients a range of products designed to ease cross-border transactions.
These include the Express Trade Service and the International Trade Account.
“Customers have benefited from this initiative by being able to open new accounts that can be accessed outside the customers’ home markets to facilitate cross-border transactions,†Ahmed said. SMEs are key drivers of growth in Africa.
Standard Chartered believes that SMEs in Africa currently account for between 30-60% of GDP, predicting that SMEs will be a key driver of sustainable economic growth in Africa over the next 10 years.
The Bank is committed to assisting the development of the SME sector in Africa through the provision of innovative financial services. Last September, Standard Chartered Bank ran its hugely successful ‘Africa SME month’ launching new products and services, exclusively to its customers in Africa
The exhibition offered participants the chance to participate in forums with suppliers and customers, obtain market advice and build valuable business ties with other SMEs from around the world